Kuwait air traffic returns to normal, flights resume QatarEnergy announces new oil discovery offshore Namibia UAE developer Alef launches $1.1bln mixed-use development in Sharjah ADNOC eyeing Canada upstream and LNG opportunities via XRG arm, executive says Dubai real estate deals in April surge to $18.7bln Saudi's SAMA mandates advance notification of investment rounds by financing companies Qatar maritime trade activity accelerates in May Oil steadies as uncertainty over US-Iran talks keeps markets on edge Qatar: Relatively hot daytime conditions expected, moderate night Dubai Centre for Family Businesses explores ways to strengthen business adaptability Saudi Crown Prince, UAE President discuss regional security and cooperation UAE President and Qatar’s Emir discuss fraternal ties and regional developments in phone call Flydubai operates 3,800 flights in March, posts high net promoter score Oman Investment Bank names new CEO Saudi sovereign investor PIF mandates 3yr, 7yr, 30yr USD issuance Abu Dhabi's TA’ZIZ Methanol JV secures $2bn financing for methanol plant Emirates airline posts record net profit despite war impact Qatar unveils support package to steady markets, boost investor confidence Saudi Vision 2030 milestones forge a stronger, diversified, and resilient economy Abu Dhabi non-oil trade jumps 36% to $113bln in 2025; exports rise 63% Qatar's GTA extends 2025 tax return submission deadline until June 30 Qatar targets strategic FDI as global competition intensifies New pharma plant opens in Nizwa, boosting Oman’s drug security Jeddah Tower hits new construction milestone; tops 100 floors Qatar’s banking assets touch $596bln in February: QNBFS Dubai Holding Real Estate, ENBD partner to offer financing for key projects Ajman DED issues 1,617 new licences, renews 8,777 in Q1 Saudi: SFDA begins classifying fines according to size of establishment in bid to support MSMEs Burjeel Holdings strengthens growth outlook Saudi Arabia raises its oil price for Asia

Log in

عربي

Media Centre

Home » Media Centre

Saudi Fund for Development signs agreement to support SMEs in Oman

Saudi Fund for Development signs agreement to support SMEs in Oman

Saudi Fund for Development signs agreement to support SMEs in Oman

Apr 22, 2024

Muscat: The Saudi Fund for Development (SFD) in Oman has signed a development financing agreement worth $67 million with the Oman Development Bank (ODB).

This agreement is part of the $150-million support program provided by the Saudi government to Oman through the fund.

The co-chairs of the Saudi-Omani joint committee for the management of the program to support small and medium enterprises (SMEs) signed the agreement at a signing ceremony at the ODB headquarters in Oman.

Director of Financial Operations and Chairman of the Saudi side of the joint committee Saeed Al-Qahtani and Director General of Treasury at the Ministry of Finance and Chair of the Omani side of the joint committee Zahir Al-Abri represented the two sides in the agreement, while ODB CEO Hussain Al-Lawati signed the agreement on behalf of the bank.

The agreement aims to support the ODB's initiatives in financing SMEs' activities, enhance social and economic growth, and create jobs in various states and governorates of Oman. The ODB is one of Oman's most prominent government entities concerned with providing financing facilities for micro, small, and medium enterprises in the sultanate.