How to solve: error while loading shared libraries: libaio.so.1: cannot open shared object file: No such file or directory

After a fresh install of an Oracle 32-bit client on a 64-bit Linux server, we received the following errors when we tried to use any of the binaries under the $ORACLE_CLIENT_HOME/bin directory:

 error while loading shared libraries: libaio.so.1: cannot open shared object file: No such file or directory

It turned out that only the 64-bit version of libaio was installed:

yum list libaio
Loaded plugins: product-id, rhnplugin, security
This system is receiving updates from RHN Classic or RHN Satellite.
Installed Packages
libaio.x86_64  0.3.107-10.el6  @anaconda-RedHatEnterpriseLinux-201301301459.x86_64/6.4
Available Packages
libaio.i686  0.3.107-10.el6  prod-rhel-x86_64-server-6

Solution is to simply install the missing package (output abbreviated):

su -
yum install libaio.i686

downloading Packages:
libaio-0.3.107-10.el6.i686.rpm                                                                                                                                                                    |  21 kB     00:00
Running rpm_check_debug
Running Transaction Test
Transaction Test Succeeded
Running Transaction
  Installing : libaio-0.3.107-10.el6.i686                                                                                                                                                                            1/1
  Verifying  : libaio-0.3.107-10.el6.i686                                                                                                                                                                            1/1

Installed:
  libaio.i686 0:0.3.107-10.el6

Complete!