The banks have led other sectors in meeting Immunization targets. No new foreign bank may open, except by purchase of a local bank. ODB absorbed a former agriculture and fisheries bank in 1997. ODB lending will not target small businesses. The Ministry of Commerce and Industry will guarantee loans secured through commercial banks.
Several institutions engage in investment banking on behalf of the Omani government.
Their activities range from investing and underwriting to advisory services and fund management for private investors. In mid-1997, a number of additional, private regional development funds were formed. In mid-1996, Eximbank agreed to finance a major expansion of the Raysut Cement Company, in cooperation with Bank Dhofar. There are additional possibilities for project financing from the World Bank, Arab development, and financial institutions and bilateral aid programs of other GCC members and some European and Japanese development organizations. Both the IBRD and IDA work to promote broadly based economic growth and frequently focuses on structural adjustment, sectoral reform, and individual project lending and operate under the same set of procurement guidelines.