The Ministry of Finance and the Arab Fund for Economic and Social Development (AFESD) on Monday signed two loan agreements worth RO150mn for financing development projects in the sultanate.

The two agreements were signed by H E Darwish bin Ismail bin Ali al Balushi, Minister Responsible for Financial Affairs and Abdullatif Yousef al Hamad, chairman and director general of AFESD.

The first agreement worth RO89mn will be utilised in financing part of the project for enhancing the water pipelines in the governorates of Batinah (from Sohar to Barka).

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