Skip to content Skip to Search
Skip navigation

SMEs in Oman to get emergency fund loans

Oman SMEs Oman News Agency
The loan repayment period will be capped at five years, starting from the end of the grace period

The Oman government has set up an emergency fund to support small and medium enterprises after the impact of a tropical cyclone last October.

The loan fund is intended to ensure the continued and sustainable operation of SMEs and aid in overcoming any emergency situations, the state-run Oman News Agency reported, quoting the Authority for Small and Medium Enterprises Development.

No financial details about the fund were disclosed.



The programme’s assistance will be available to existing SMEs within the geographical areas affected by any government-declared emergency, the report said.

Beneficiaries will be able to take advantage of a non-payment period of up to two years. The loan repayment period will be capped at five years, starting from the end of the grace period.

Oman was badly affected by record flooding that hit the region in April, with reports that 17 people died, and businesses and homes hit.

In January, Oman launched a OR2 billion ($5.2 billion) fund to encourage more investment in local SMEs.

In March the state-backed Oman Investment Authority officially launched the $5.2 billion Future Fund Oman, with SMEs due to receive 7 percent of that.

Latest articles

Coca-Cola Turkey

Boycotts help send Turkey’s Coca-Cola sales down

A boycott of brands seen as supporting Israel in the Middle East has helped bring a double-digit drop in third-quarter sales in Turkey and Pakistan for a Coca-Cola subsidiary. Coca-Cola Icecek (CCI), which is based in Istanbul, said sales in Turkey in Q3 fell 12.2 percent, while sales in Pakistan were down by 22.9 percent. […]

An Emirates plane refueling. The UAE wants 1 percent of its jet fuel to be locallly produced SAF by 2031

Fujairah to provide 150m litres of ‘green’ aviation fuel 

The expansion of a biofuel facility in the UAE will provide nearly 10 percent of the world’s sustainable aviation fuel (SAF), the project’s operators have claimed. Mercantile and Maritime Group, an energy and logistics company specialising in the physical trading of oil and gas, announced on Tuesday that its facility in Fujairah will be expanded […]

Air freight has been an increasingly important method of transportation since the conflict in the Middle East erupted and shipping routes were disrupted

Saudi Arabia and US expand aviation deal to include cargo

Saudi Arabia and the US have expanded their bilateral aviation agreement to allow seventh freedom traffic rights for all-cargo flights. Seventh freedom allows airlines to carry on flights that originate in a foreign country, bypass its home country, and deposit the cargo or passengers at another international destination. The amendment will allow Saudi Arabian airlines […]

The Nasdaq-listed chipmaker GlobalFoundries expects adjusted profit per share to be in the range of 39-51 cents in the fourth quarter

Mubadala-backed chipmaker reports 29% drop in profit

GlobalFoundries, the world’s third-largest contract chipmaker, reported a year-on-year net income fall of 29 percent to $178 million in the third quarter of 2024. Revenue at GlobalFoundries, which is backed by Abu Dhabi’s Mubadala Investment Company, was down 6 percent year on year to $1.7 billion. The company’s smart mobile devices end-market reported an 11 […]