Oman signs several agreements with Islamic Development Bank Group

Algiers: The Sultanate of Oman today signed several agreements with the Islamic Development Bank (IsDB) Group to the tune ofOMR243 million to contribute to financing climate-resilient flood protection dam projects and their associated components.

The signing took place on the sidelines of the 50th Annual Meeting of the Islamic Development Bank Group's Board of Governors held in Algeria.

The agreements were signed by Sultan Salem Al Habsi, Minister of Finance, and Dr. Mohammed Sulaiman Al Jasser, Chairman of the Islamic Development Bank Group.

Al Habsi also signed a framework memorandum aimed at achieving strategic cooperation between the two parties and enhancing economic integration with the Islamic Development Bank Group and member states. The memorandum covers several areas of cooperation, including infrastructure development, supporting the private sector, and other fields such as roads, electricity, water, sanitation, tourism, manufacturing industries and industrial zones, in addition to human and institutional capacity building.