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FinancialNews
01-05-19
Oman receives USD540m Chinese infrastructure support
(MENAFN) Oman was announced to have been granted USD540 million of investments from China in support of its infrastructure initiatives.
Both Oman and China are enjoying strong and close bilateral relations as they cooperate in various areas on all levels.
"China signed an MoU with Oman in the year 2018 as part of the Belt and Road Initiative," stated Chinese Ambassador to Oman H E Li Lingbing.
"Now, Oman is the most important partner of China with regard to the co-operation in Belt and Road Forum. It is not only because of BRF but otherwise as Oman is also one of the important partners of China in the entire Gulf region," the ambassador noted.
"In 2016, China provided two loans to Oman to undertake two different projects. One is US$265mn provided by the Asian Infrastructure Investment Bank (AIIB) for construction of the Duqm port. Second was US$36mn for road construction in the country," Li added.
MENAFN0105201900450000ID1098461302
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