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Asharq Al-Awsat

Business

Muscat - Asharq Al-Awsat

Oman Signs Three MoUs with Saudi Fund for Development

Oman SFD Finance Ministry

The Omani Minister of Finance and the CEO of the Saudi Development Fund sign the memorandums of understanding. (ONA)

Oman’s Finance Ministry signed on Thursday three Memorandums of Understandings (MoUs) with the Saudi Fund for Development (SFD) to finance several projects worth RO94 million (about $244 million).

The first MoU aims at supporting small and medium enterprises (SMEs) by allocating funds to give access to soft loans in various sectors with a total of RO57.6 million ($149.6 million), ensuring the private sector’s contribution to the development process and providing support for job seekers.

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