More than OMR 10 million approved for agricultural projects affected by cyclone Shaheen

Muscat: The Oman Development Bank, in cooperation with the Ministry of Agriculture, Fisheries and Water Resources, has approved development loans amounting to OMR 10.91 million for agricultural projects affected by the climatic conditions “Cyclone Shaheen”, within the framework of its competence to manage loan and grant programmes offered by the government.

The number of approved loans reached 249 out of 415 applications that were received, studied and analysed in terms of damages, the existence of economic feasibility of the project and other evaluation criteria that were taken into account to ensure the revival of damaged agricultural projects in the wilayats of Barka, Al-Musanna, Al-Suwaiq, Al-Khaboura, Saham and Ibri and their sustainability in the medium and long term. Because of its great importance in achieving food security and ensuring a profitable return for its owners and workers.

These government-supported loans come without bearing any returns or fees in favour of the loan by the owners of the affected project as part of the aid, and support programmes provided by the government to citizens living in states affected by the climatic conditions and restoring life to the normal situation it was in before the cyclone.