Mining, construction top ODB list

Muscat: Oman Development Bank (ODB) financed 3,465 projects in 2010 with a total of 36.8 million Omani riyals (Dh350.09 million), according to a press release from the bank yesterday.

The bank provides loans to spur economic development in Oman by supporting the establishment and expansion of projects in various production and service sectors.

The fisheries sector took the lion's share in terms of loans obtained, receiving 1,610 loans — 47 per cent. The value of loans to the sector was 4.75 million riyals, or 12.9 per cent of the value of the loans.

Agriculture and livestock-rearing ventures were awarded 1,106 loans, a 31.9 per cent share of the total across all economic sectors, worth 5.32 million riyals and 14.5 per cent of the value.

The mining, construction materials, forming and manufacturing basic minerals came in first place in value of the loans. This sector received 135 loans, or 3.9 per cent in terms of number. The loans, however, added up to 8.87 million riyals, or 24.1 per cent of the value of all loans granted.

Tourism loans

ODB provided 85 loans for the education and health sectors. These loans constituted 2.5 per cent of the loans provided by the bank. The value of these loans was 3.13 million riyals with 8.5 per cent of the loans' total capital value.

The bank also provided 142 loans for the tourist, vocational and various general services comprising 4.1 per cent of the loans. Their value was 5.13 million riyals and constituted 13.9 per cent of the value of the loans.

ODB provided 178 loans for the timber, papers mills, printing, publishing and recasting industries, or 5.1 per cent of the loans to all sectors.

Their value was 3.02 million riyals, and constituted 8.2 per cent of the total value of the loans.

The bank granted 24 loans to the textile, leather and footwear industry worth 88,000 riyals. ODB also granted 141 loans to the machinery, equipment, communication and transportation industries worth 3.08 million riyals.

These loans constituted 8.4 per cent of loans granted to the economic sector.

Food industry

The bank financed 29 projects in the food and beverages industry worth 2.57 million riyals and constituting 7 per cent of the loans.

ODB also financed 15 projects in the petrochemical industries worth 870,000 riyals and constituting 2.4 per cent of the value of the loans.