Mubasher: Oman’s government signed an agreement of unsecured term loan worth $3.55 billion with group of Chinese financial organisations, said Oman News Agency (ONA).

The loan’s value was $2 billion initially, and it increased to $3.55 billion, ONA added.

“The term loan follows [Oman’s] $5 billion multi-tranche bond and $2 billion sukuk priced earlier this year”, ONA reported, citing a statement by the Omani Ministry of Finance as saying.

Through this loan Oman’s government is supplementing the external financing requirements for 2017 and diversifying funding sources.