Pubali Bank has reached a syndicated loan facility agreement worth $52 million with Bank Muscat.  The facility will help Pubali Bank provide liquidity services to local banks and local import and export businesses and strengthen the country's economic growth, generating up to $200 million of additional trade every year, says a press release.

It will meet needs of over 28 million retail and small and medium enterprise clients and support key sectors such as readymade garments, manufacturing and food processing and production and agro-based industries.

Initially launched for a facility size of $35 million, the transaction achieved significant oversubscription of about 48 per cent, and was then scaled up to finally conclude at $52 million.