ENP Newswire -
Release date- 20022014 - A World Bank delegation led by H.E Dr.
H.E The Executive President held prolonged discussions on issues of mutual importance with the visiting
H.E. said that the Sultanate was taking steps to encourage the development of the non-oil sectors in the country which he said can provide potential grounds for creating increased job opportunities for the citizens of the country.
H.E. who commended the existing collaboration between the
Providing an insight on various development programs initiated by the Sultanate, H.E. pointed out that the Central bank of
He informed that the Central bank has directed all banks in the Sultanate to extend loans and credit facilities to the small and medium enterprises earmarking at least 5% of their total credit portfolio. This, he said, would provide these enterprises with a limit of OR 1 billion during the coming period.
H.E. also indicated that the Government was also funding SMEs through
H.E. underlined the fact that all these projects were aimed at creating increased employment opportunities in the country so that young Omanis can take up entrepreneurship and establish greater number of SMEs.
H.E informed the visiting delegation that the Central bank was planning to form a higher Financial Stability Committee in the country which will have a number of officials from the competent authorities in the country as its members. The committee would undertake relevant studies and bring in the best to ensure greater financial stability in the country. These efforts, H.E. informed will encourage foreign investors to invest in the bigger development projects which are currently being implemented in the Sultanate.
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