Muscat: Mahmoud Abdullah Al Awaini, Secretary General of the Ministry of Finance and Chairman of the Board of Directors of the Development Bank, affirmed the Bank's commitment to prioritizing the Royal directives of His Majesty the Sultan during the current phase.

According to Oman News Agency, the Bank has initiated a comprehensive study focused on affected sectors and projects. The aim is to assess the viability of deferring due installments as the geopolitical landscape impacts Bank-financed projects. This initiative seeks to ensure the operational continuity of these ventures, mitigate adverse repercussions, and position them to capitalize on emerging opportunities in certain sectors amid the prevailing circumstances.

Furthermore, the Development Bank is evaluating the feasibility of providing financial facilities to enable affected projects to overcome challenges arising from the current geopolitical situation. Al Awaini highlighted that the Bank will introduce an electronic platform for deferment applications, allowing beneficiaries to submit requests with ease and flexibility. The applications will be reviewed by the Bank's specialized teams, aligning with the aspirations of SMEs owners and the Royal directives.