Friday 04 / July / 2025
Muscat: Oman Development Bank’s (ODB) Saham branch has disbursed 39 seasonal loans with a total value of OMR294,455.
"These seasonal loans are important due to their role in achieving food security in the country and their benefits to the farmers. The ODB provides finance between OMR5,000 and OMR50,000 for seasonal agriculture and the amount of funding is decided by the targeted product of the season," Yasir bin Mohammad bin Ashraf Al Zadjali, Director of ODB’s Saham branch, said.
The loan term is for nine months and loans beyond OMR5,000 require a personal guarantee and are available on minor interest. They cover 70 per cent of the cost of production, in order to provide the requirements of agricultural production, marketing and packaging, he added.
ODB's Saham branch had organised a seminar, “Grow together-2”, as a competition in excellence among its branches. The seminar was organised under the auspices of Sheikh Sabaa Bin Hamdan Al Saadi, Secretary General of the Supreme Committee for National Day Celebrations, at Waha Al Saadah Private School’s theatre in wilayat Khaboura.
The seminar began with the presentation of a drama by the students of Jawharah Al Nahda Private School. The drama was based on the contribution and efforts of ODB in supporting and financing small and medium enterprises in all development sectors.
A seasonal loan is aimed at financing all seasonal vegetable crops, especially those with economic value and production potential in the Sultanate, such as pepper, cucumbers, melons, tomatoes, cabbages, potatoes and wheat. The ODB gives special importance to agriculture, in line with the ninth five-year plan, which has made the sector one of its main axes for development.
Sa’id bin Abdullah Al Kharousi, Chairman of the Farmers’ Association, gave a visual presentation to introduce the association and its objectives, stages of establishment and its basic rules and regulations.
He also explained the efforts made by the association in removing the obstacles faced by the farmers and the agreements reached with many governmental and private organisations and are in the interest of farmers, starting with sustainable national agriculture, which brings economic returns and helps in achieving expected food security.
Al Kharousi said that the association, in cooperation with the Ministry of Agriculture, aims to communicate the outcome of the research carried out by the ministry to farmers so that they can benefit from it.
He also announced that there was a recent agreement with a major Chinese company to establish the largest protected house in the Sultanate to grow seasonal crops during the off-season. It would save the import bill, especially during summer.
The association also supports local farmers in marketing their products. The value of Omani agricultural exports to Japan has reached around 570 tonnes per day. It is in the interest of the small farmers.
The head of the farmers association also counted the efforts made by the association to support the agriculture sector by providing the latest technology and reducing the use of fertilisers, repellents and consumption of water and introducing modern storage methods to reduce incurring losses in agricultural products.
Sheikh Sabaa Al Saadi also visited the exhibition organised on the sidelines of the seminar, which showcased seasonal crops. It saw participation by owners of farms who have availed of the facility of seasonal loans from the ODB.
He lauded the quality of these financial products and urged all the institutions concerned to support these projects and develop them as role models for other projects as added value to the national economy.
