RO 243m pacts to finance flood protection dams
The Sultanate of Oman signed a number of agreements with the Islamic Development Bank Group (IsDB) worth RO 243 million to finance the construction of flood protection dams, on Wednesday.
The agreements were signed on the sidelines of the 50th Annual Meeting of the Board of Governors of the Islamic Development Bank (IsDB) Group, held in Algiers.
The agreements were signed by Sultan bin Salim al Habsi, Minister of Finance, and Dr Mohammed bin Sulaiman al Jasser, Chairman of the Islamic Development Bank Group.
The minister also signed a framework memorandum to enhance strategic cooperation and economic integration with the IsDB Group and member states. The memorandum covers several areas of cooperation including infrastructure development and support for the private sector and other sectors such as roads, electricity, water, sanitation, tourism, manufacturing industries, industrial zones in addition to developing human and institutional capacities.
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