Oman Participates in Annual Forum of OPEC Fund for International Development

Vienna, 18 Jun (ONA) --- The Sultanate of Oman is taking part in the Annual Forum of OPEC Fund for International Development (OFID), being held in Vienna under the theme of “A Transition that Empowers Our Tomorrow”.

The Sultanate of Oman's delegation is headed by Abdullah Salim Al Harthy, Undersecretary of the Ministry of Finance.

The forum discusses means of financing future projects to achieve sustainable development, realizing sustainable transition in developing countries' economies, enhancing resilience in the face of climate change and introducing digital enablers for building robust economies.

On the sidelines of the forum, Al Harthy also held meetings with officials from the OFID and representatives of regional and international financial institutions.

Two agreements were signed between the Government of the Sultanate of Oman and the OPEC Fund for International Development (OFID). They were inked by Al Harthy and Dr. Abdul Hamid Al Khalifa, OPEC Fund Director General.

The first agreement provides for financing the implementation of Khasab-Diba-Lima Road Project (Sultan Faisal bin Turki Road), while the second agreement deals with means of enhancing cooperation between the Sultanate of Oman and OFID for a period of five years.

Another agreement was signed for financing the implementation of the first phase of a surface water drainage project in the Al Rawdha Economic Zone in Al Buraimi Governorate. The agreement will contribute to measures for protecting tourism, industrial and agricultural facilities, establishing an integrated network of open canals and water barriers and constructing water harvesting ponds. It was inked by Al Harthy and Badr Mohammed Al Saad, Director General and Chairman of the Board of Directors of the Arab Fund for Economic and Social Development.

--- Ends/Bishara/AH