Oman
Hosts 48th ADFIAP Annual Meeting
Muscat,
23 Apr (ONA) — The 48th Annual Meeting of the Association of Development
Financing Institutions in Asia and the Pacific (ADFIAP) took place today in
Muscat.
The
meeting is hosted by the Sultanate of Oman, represented by the Development Bank
(DB). The meeting, held from 23 to 25 April 2025, focuses on community economic
empowerment, development impact in Oman, entrepreneurship ecosystems, aligning
capital with development goals, and building sustainable economies.
The
inaugural event was held under the auspices of Eng. Said Hamoud Al Maawali,
Minister of Transport, Communications and Information Technology. It is themed “Economic
Gardening and Development Impact”.
The
meeting highlights the pivotal role of development finance in supporting
national economic growth.
The
ASFIAP meeting brought together around 300 participants from 40 countries,
including policymakers, experts, and stakeholders in finance and development.
Mahmood
Abdullah Al Aweini, Chairman of the Development Bank, expressed pride in
hosting the 48th ADFIAP meetings, calling the organisation a vital driver of
national and regional development.
He
added that the meeting theme of economic gardening aligns closely with Oman
Vision 2040, which serves as a roadmap for sustainable growth, innovation, and
the empowerment of local communities under the wise leadership of His Majesty
Sultan Haitham bin Tarik.
Al
Aweini reaffirmed Oman’s commitment to achieving net-zero emissions by 2050, “Oman
has established the Oman Sustainability Centre for Renewable Energy Projects
and set ambitious targets for green hydrogen production, goals that can only be
realised with the support of development finance institutions like those
represented here today,” he noted.
He
further highlighted the Development Bank’s commitment to inclusive opportunity
and social progress through the financing of diverse projects, fostering local
value creation, and building an entrepreneurial ecosystem that empowers youth,
women, and communities through targeted finance, training, and strong
public-private partnerships.
Hussein
Ali Al Lawati, CEO of the Development Bank, underlined the evolving role of
development finance institutions. “With their tools and capabilities, these
institutions stand at a crossroads where public policy meets entrepreneurship,
guiding capital towards sectors that reinforce social cohesion and open new
growth opportunities in underserved environments,” he said.
Al
Lawati explained that choosing economic gardening as this year’s theme reflects
a shift in the development mindset, from importing ready-made solutions to
nurturing local potential, from looking outward to enabling internal
capabilities, and from relying on traditional resources to investing in human,
knowledge, and community capital.
He
stressed that supporting small and medium-sized enterprises (SMEs), especially
during their growth phases, is an investment in stability, innovation, and
social cohesion, ultimately ensuring intergenerational growth continuity.
The
meeting programme features sessions on green banking initiatives, sustainable
lending practices, environmental risk management, innovative green financing
tools, climate resilience strategies, and international cooperation for
building adaptive capacities. It also addresses the critical role of
second-tier institutions in advancing local economic growth and sustainability.
Dr.
Kao Thach, Chairman of the ADFIAP noted that this year’s meetings, held under
the theme ‘Economic Gardening and Development Impact,’ are both timely and
inspiring. “Under this theme we encourage a reimagining of development as a
process rooted in local strength, one that grows from within and starts at the
grassroots,” he said.
He
explained that “At its core, economic development challenges us to nurture
local entrepreneurs, invest in communities, and strengthen ecosystems that
allow businesses and innovations to flourish. These elements are powerful
levers for addressing global development challenges while supporting inclusive
and resilient local economic growth. Through this year’s sessions, participants
will explore critical topics such as community economic empowerment, the role
of second-tier companies, entrepreneurship ecosystems, goal-aligned financing,
financial resilience, and green and sustainable finance, all of which are
foundational to inclusive development across the Asia-Pacific region”.
The
meeting aims to serve as a platform for knowledge exchange and peer learning on
how best to empower communities and achieve sustainable development. It
includes important discussions on green finance and the role of development
finance institutions in addressing climate challenges, all of which contribute
to building economic resilience and achieving the Sustainable Development
Goals.
Hamad
Salim Al Harthy, Chief MSME & Portfolio Management at DB and General
Supervisor of the Meeting, emphasised the significance of the event in
reinforcing effective partnerships, empowering communities, and promoting
sustainable economic growth through the sharing of ideas and successful
practices. He added that the meeting is a unique opportunity to examine the
challenges facing financing institutions and how they can be addressed through
international cooperation. Oman’s hosting of the event, he explained, stems
from its active engagement as a member of the organisation.
Hosting
the ADFIAP meetings in Muscat reflects Oman’s growing role in development
finance, entrepreneurship, and SME support. It also represents an opportunity
to strengthen international cooperation and share best practices in the sector,
contributing to the achievement of sustainable development. Oman aspires to
enhance its position as a regional hub for finance and development, in line
with the strategic priorities of Oman Vision 2040.
Between
2020 and 2024, the Development Bank approved a total of 28,901 loans with a
cumulative value of RO 533.9 million, averaging 5,780 approvals annually with a
yearly value of over RO 106.7 million. These figures underscore the bank’s
central role in supporting Oman’s economy, promoting entrepreneurship, and
driving community development.
The
industrial sector received the largest share, accounting for 35.6 percent of
the total approved value — RO 190.1 million for 6,784 approvals. This was
followed by the fisheries sector, which received RO 101.6 million (18.9 percent)
for 11,326 approvals, and professional and public services, with RO 70.4 million
(13.1 percent) for 4,051 approvals.
Additional
loan approvals included RO 65.7 million for tourism services (1,482 approvals),
RO 49.2 million for agriculture and livestock (4,405 approvals), RO 30.9
million for education (569 approvals), RO 18 million for healthcare services
(243 approvals), and RO 8.3 million for the mining sector (41 approvals). In
terms of loan products, large corporate loans accounted for the highest share at
30 percent (RO 160 million), followed by microloans at 26.1 percent (RO 139.5
million), and working capital loans at 25.1 percent (RO 134.2 million). SME
loans accounted for RO 98.9 million, and seasonal loans for RO 1.3 million.
The
approvals were distributed across all governorates, reflecting the bank’s
contribution to balanced regional development. Approvals in Muscat reached RO
134 million, followed by RO 88 million in South Al Sharqiyah, RO 81.3 million
in North Al Batinah, RO 55.3 million in South Al Batinah, and RO 52.7 million
in Dhofar.
—Ends/AG
