Gulf | Oman
Oman releases cash for Gonu rebuilding
A ministerial committee, formed by Sultan Qaboos Bin Said to oversee the repair and restoration of infrastructure damaged by tropical cyclone Gonu, released 15.6 million Omani riyals on Tuesday.
- Staff Report
- Published: 00:21 July 12, 2007
Muscat: A ministerial committee, formed by Sultan Qaboos Bin Said to oversee the repair and restoration of infrastructure damaged by tropical cyclone Gonu, released 15.6 million Omani riyals on Tuesday.
"Part of the funds released would be utilised to repair fishing harbours in Al Ashkhara, Sur, Quriyat, Muttrah and Daba areas," said a statement attributed to the committee and reported by the official Oman News Agency on Tuesday.
Part of the 15.6 million riyals (about Dh148.8 million) will also be used to repair the distribution grids and major pipelines at wadi crossings in the coastal areas extending from Aseelah and Al Dafa in the Wilayat of Jaalan Bani Bu Ali in the eastern parts of the country. Some buildings, workshops and other utilities that were damaged by Cyclone Gonu in eastern Oman will also be repaired with these funds.
Beneficiaries
Other beneficiaries of the funds, according to ONA, are Seeb and Sur vocational training centres, Ministry of Education premises and facilities in the Governorate of Muscat, the Southern Batinah, the Dakhiliyah and Sharqiyah regions.
The announcement was made after a meeting of the ministerial committee under the chairmanship of Ahmad Bin Abdulnabi Makki, Minister of National Economy and Deputy Chairman of the Financial Affairs and Energy Resources Council.
Meanwhile, the Arab Fund for Economic and Social Development has sanctioned an 81 million riyal (about Dh772.7 million) loan for new infrastructure projects in Oman, reported ONA.
With a 4.5 per cent interest rate, the repayment is to be made in 22 years with a five-year grace period. The Arab Fund for Economic and Social Development and Oman also signed a memorandum of understanding for 4 million riyals (about Dh31.8 million) to fund other infrastructure projects in Oman.
The agreement was signed by Makki on behalf of the Sultanate's government, and Abdul Latif Bin Yousuf Al Hamad, General Manager and Chairman for the Arab Fund for Economic and Social Development.
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