Middle East Economic Survey

VOL. LII

No 40

5-Oct-2009

Domestic Banks Step Up For Omani Projects

Despite facing a shortage of dollar funding during the early part of the financial crisis, like their Gulf neighbors, Omani banks have recently seen some improvement and at the end of September a group of them signed an agreement to provide $200mn worth of project finance to Sohar Industrial Port Company (SIPC) for construction of a deepwater bulk jetty (see page 15). The project arranger, Bank Muscat,...