Oman Development Bank takes part in Nizwa dates festival

20/10/2014 06:55 AST

The Oman Development Bank (ODB) has taken part in the second Omani Dates Festival held at Souq Nizwa and sponsored by the Public Authority for Small and Medium Enterprises Development.

Inaugurated by Mohamed bin Salim Al Tobi, minister of environment and climate affairs, the festival seeks to create a permanent market for Omani dates and provide consumers with an opportunity to choose from the various types of Omani dates through supporting businesses involved in the production, manufacture, promotion and marketing of dates.

At the festival, Oman Development Bank held a seminar conducted by Eng Issa bin Saleh Al Naabni, food products sector head at ODB. Al Naabni reviewed the support, services, programmes, bank products and assistance delivered by Oman Development Bank to business owners and entrepreneurs involved in date farming, production and marketing.

Al Naabni further pointed out that ODB provides special attention to small businesses in order to support their diversifying their income sources, as well as in the creation of jobs.

"Loans offered by Oman Development Bank to farmers and entrepreneurs involved in date planting, production and marketing cover a wide range of requirements, including irrigation systems, date factories, renovation of farms, packaging devices, equipment and machines. Interest rates on loans available for date-related projects are less than the 3 per cent level," added Al Naabi.

Of note, the agriculture and livestock sector came in second among all economic sectors supported by Oman Development Bank during the first six months in 2014, as 725 loans were approved with a total value of OMR3,675,000.

Times of Oman