Oman has signed agreements worth RO 243 million (US$631 million) with the Islamic Development Bank Group (IsDB) to fund the construction of flood protection dams, according to Zawya. The agreements were concluded during the IsDB’s 50th Annual Meeting in Algiers.
Oman’s Minister of Finance, Sultan bin Salim al Habsi, and IsDB Chairman, Dr. Mohammed bin Sulaiman al Jasser, formalized the deal. Alongside the financing, a framework memorandum was also signed to boost strategic cooperation with IsDB and its member countries.
The memorandum covers joint efforts in infrastructure development, private sector growth, and investment across critical sectors, including transport, power, water, sanitation, tourism, manufacturing, industrial zone development, and institutional capacity-building.
Source: smartwatermagazine.com
