Thursday 12, July 2018 by Kudakwashe

AIIB contemplates an increase in funding to support Omani infrastructure projects

 

The Chinese-based lender has so far committed around $540 million in funding support for Omani infrastructure projects over the past two years.

  

The Asian Infrastructure Investment Bank (AIIB), has announced that it is weighing increased funding support for the Duqm Port project, given its strategic importance to Oman’s economic diversification strategy, reported local news daily Oman Observer.

Oman is among the notable recipients of financial support from AIIB among countries in the MENA, as of May 2018, AIIB’s total loans approved since inception amounted to $4.4 billion US dollars, with the projects two in Oman and one in Egypt collectively accounting for $627 million.

Pang Yee Ean, Director General of AIIB’s Investment Operations Department, said that the Bank has extended funding support for the development of a commercial terminal and operational zone at Duqm Port, as well as invested in broadband infrastructure in the Sultanate.

  

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