HSBC Bank Oman and the SME Development Fund (SMEF) signed a collaborative agreement recently to provide small and medium sized enterprises (SMEs) in Oman with OMR5 million in financing. This collaboration provides additional support to the SME development initiatives endorsed by the Omani government and will help accelerate the growth of SMEs throughout the Sultanate by giving them access to financing at an attractive rate. Through its entrepreneurs’ development programs and financing schemes, SMEF aims to nurture Omani entrepreneurs and to see some of them grow to be large firms. In so doing, it also targets creating new job opportunities.