ODB to provide agricultural loan for farmers


Oman Development Bank (ODB) is focusing on providing agricultural loan to farmers to support a government initiative to strengthen food security.

The loan for farmers will help achieve self-sufficiency to maintain agriculture crops and livestock, and help establish and sustain agriculture with value addition and growth in production, said a bank release.

ODB, in cooperation with the Ministry of Agriculture and Fisheries, has organised a seminar on the bank’s role in investing on developing agriculture.

Mounir bin Salem Al Hanaa’y, manager, Department of Seasonal Loans, presented a paper on the seasonal agricultural loans (Mawsimi) provided by the bank.The bank provides subsidised developmental loans for the agricultural sector in many fields, which include establishing new farms, irrigation systems, expansion and development of farms; developing and maintaining farms, drilling wells for agricultural purposes and beekeeping.

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