Saudi Fund signs development financing deal with ODB

Saudi Fund signs development financing deal with ODB

The Saudi Fund for Development (SFD) 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. Further, the agreement aims to support the ODB’s initiatives in financing SMEs’ activities, enhance […]The Saudi Fund for Development (SFD) 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.

Further, 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 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