The Development Bank signed two agreements and two memoranda of cooperation today to provide developmental financing for projects in the fisheries and tourism sectors and to launch the Economic Horticulture Initiative. This initiative aims to promote entrepreneurship in various economic activities and support accommodation facilities as part of the bank’s efforts to boost economic development in Musandam Governorate and encourage investment in productive and service sectors.
The first memorandum of cooperation, signed between the Development Bank, the Office of the Governor of Musandam, Omran Group, and Oman Tourism College, focuses on financing the establishment of eco-lodges on existing farms in Musandam to enhance the hospitality sector in the governorate. The memorandum was signed by H.E. Ibrahim bin Said Al Busaidi, Governor of Musandam, while it was signed on behalf of the Develo
