Muscat, Rabi'II 8, 1437, Jan 18, 2016, SPA -- Oman's Ministry of Finance announced today that it has signed a $1 billion loan facility agreement with 11 international banks, including two regional banks to finance the requirements of the state budget. The move comes within the plan developed by the Ministry of Finance to finance the state budget deficit through a medium-term financial plan. The agreement was signed on behalf of the Sultanate's government by Darwish bin Isma'eeil al-Balushi, Minister Responsible for Financial Affairs. Al-Balushi said in a statement after signing the loan facility agreement that having this large number of banks reflects the trust of the world banking sector in the strength and resilience of the Omani economy and the positive outlook to the Sultanate's economy. It should be noted that the subscription for the loan facility exceeded the requested amount as it hit $1.28 billion. --SPA 18:42 LOCAL TIME 15:42 GMT www.spa.gov.sa/w