ASMED Introduces Emergency Financing Programme for SMEs

Oman, 22 July, 2024 : The Authority for Small and Medium Enterprises Development (ASMED) has introduced an emergency financing programme to support SMEs during crises. This initiative aims to ensure SMEs' sustainability and resilience in emergency situations.

The programme targets SMEs in areas affected by officially declared emergencies, offering quick and effective financial support to mitigate economic impacts.

Eligibility criteria include having an entrepreneurship (Riyada) card, suitable financial and credit status, a grace period of up to two years, and a loan repayment period not exceeding five years post-grace period.

ASMED's decision follows close monitoring of SMEs during the recent tropical depression.

Source : www.omannews.gov.om