48th ADFIAP annual meeting kicks off in Muscat
Published: 03:04 PM,Apr 23,2025 | EDITED : 07:04 PM,Apr 23,2025
The opening ceremony was held under the auspices of Eng Saeed al Maawali and attended by around 300 participants from over 40 countries. Picture by Faisal al Balushi.
MUSCAT, APRIL 23
The 48th Annual Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) officially commenced on Wednesday in Muscat, hosted by Oman, represented by the Oman Development Bank. The conference is taking place from April 23 to 25, 2025, at the Mandarin Oriental Hotel Muscat, and focuses on themes such as community economic empowerment, the impact of development in Oman, the building of entrepreneurial communities, and aligning capital with sustainable development goals.
The opening ceremony was held under the auspices of Eng Saeed al Maawali, Minister of Transport, Communications, and Information Technology, and attended by around 300 participants from over 40 countries, including policymakers, financial and development experts from Oman and abroad. This year’s conference is themed “Economic Gardening and Development,” emphasizing the need to adopt a development vision rooted in local capacities and the utilization of human and knowledge resources.
The conference addresses strategic issues such as green banking initiatives, sustainable lending practices, green finance tools, climate adaptation strategies, and international cooperation to support local economies.
Hussein al Lawati, CEO of the Oman Development Bank, stated that development finance institutions today stand at a critical crossroads, where public policy intersects with entrepreneurship to direct capital toward vital sectors. He called for the adoption of development models that enhance social cohesion and generate new growth opportunities. He noted that the choice of the theme “Economic Gardening” signifies a fundamental shift in the development philosophy—from importing solutions to empowering internal potential.
Al Lawati emphasised that empowering startups and small and medium enterprises (SMEs), particularly in their advanced stages, is an investment in social stability and innovation, and serves as a cornerstone for building bridges of sustainable opportunity.
Meanwhile, Hamad al Harthy, Head of SME and Microfinance at the Oman Development Bank and General Supervisor of the Conference, said the hosting of this event is the result of ongoing collaboration between the bank and ADFIAP. He highlighted the importance of the conference in strengthening partnerships, sharing successful experiences, and offering solutions to the challenges faced by development finance institutions.
He added that Oman has benefited from its ADFIAP membership through exchange visits with regional development banks, the signing of memoranda of understanding, and the organization of specialized training workshops, all of which have contributed to capacity building and the development of national expertise.
Several MoUs will be signed during the conference between regional and international institutions. Additionally, interactive activities will be held, and the final day will feature a cultural tour to the Wilayat of Nizwa in Al Dakhiliyah Governorate to introduce international delegates to Omani heritage and culture.
Dr Kao Thach, ADFIAP Chairman and Delegate of the Royal Government of Cambodia in his capacity as CEO of the Agricultural and Rural Development Bank, emphasized that the “Gardening the Local Economies” reflects a strong focus on empowering local communities and nurturing their development to become more vibrant and dynamic than ever before.
He highlighted the importance of supporting vulnerable sectors at the grassroots level, stressing the need to identify practical ways to uplift these communities. Small and Medium Enterprises (SMEs), he noted, will also be a key focus of the agenda, as they are seen as a catalyst for accelerating economic growth. “If we can nurture SMEs and strengthen their financial position, they will significantly contribute to the overall economy,” he stated.
Dr Thach also pointed to the role of the Urban Development Bank, which is increasingly concentrating its efforts on supporting local communities and businesses. He emphasized the importance of discussing strategies that help people grow from the grassroots up, reinforcing the meeting’s overarching goal of inclusive and sustainable local economic development.
The total number of loan approvals granted by the Development Bank from 2020 to 2024 reached 28,901, with a total value of RO 533.9 million and an annual average of 5,780 approvals worth more than RO 106.7 million. This reflects the bank’s pivotal role in supporting the national economy, promoting entrepreneurship, and driving community development in the Sultanate of Oman.
The industrial sector accounted for the largest share of loan approvals, representing 35.6% of the total value, with RO 190.1 million distributed over 6,784 approvals. This was followed by the fisheries sector, which received 18.9% or RO 101.6 million across 11,326 approvals, and the professional and public services sector, which accounted for 13.1% with RO 70.4 million through 4,051 approvals.
Other approvals were distributed as follows: RO 65.7 million for the tourism services sector across 1,482 approvals, RO 49.2 million for the agricultural and livestock sector with 4,405 approvals, RO 30.9 million for the education services sector through 569 approvals, RO 18 million for the healthcare services sector with 243 approvals, and RO 8.3 million for the mining sector with 41 approvals.
Loan products were also diversified, with the large loans (corporate) product capturing the largest share at 30% with a value of RO 160 million. This was followed by microloans at 26.1% with RO 139.5 million, and working capital loans at 25.1% totaling RO 134.2 million.
Small and medium-sized enterprise (SME) loans reached RO 98.9 million, while seasonal loans accounted for RO 1.3 million. These approvals further underline the Development Bank’s contribution to regional development, as they span across all governorates of Oman. The value of approvals in Muscat Governorate reached RO 134 million, followed by South Al Sharqiyah with RO 88 million, North Al Batinah with RO 81.3 million, South Al Batinah with RO 55.3 million, and Dhofar Governorate with RO 52.7 million
This hosting reflects Oman’s growing stature in the field of development finance and entrepreneurship and reinforces its ambition to become a regional development hub in line with the goals of Oman Vision 2040
In terms of financial performance, data from the Development Bank showed that the total number of loan approvals between 2020 and 2024 reached 28,901, with a total value exceeding RO 533.9 million, and an annual average of more than RO 106.7 million.
These loans were distributed across various sectors, with the industrial sector accounting for 35.6% of total approvals, followed by the fisheries sector at 18.9%, and professional and public services at 13.1%. Approvals also included sectors such as tourism, agriculture, education, health, and mining.
In terms of loan products, large corporate loans accounted for 30% of total approvals, followed by microloans at 26.1%, and working capital financing at 25.1%.
The highest number of approvals was recorded in the governorates of Muscat, South Al Sharqiyah, and North Al Batinah, reaffirming the bank’s role in promoting balanced development across the Sultanate's various regions.
The 48th Annual Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) officially commenced on Wednesday in Muscat, hosted by Oman, represented by the Oman Development Bank. The conference is taking place from April 23 to 25, 2025, at the Mandarin Oriental Hotel Muscat, and focuses on themes such as community economic empowerment, the impact of development in Oman, the building of entrepreneurial communities, and aligning capital with sustainable development goals.
The opening ceremony was held under the auspices of Eng Saeed al Maawali, Minister of Transport, Communications, and Information Technology, and attended by around 300 participants from over 40 countries, including policymakers, financial and development experts from Oman and abroad. This year’s conference is themed “Economic Gardening and Development,” emphasizing the need to adopt a development vision rooted in local capacities and the utilization of human and knowledge resources.
The conference addresses strategic issues such as green banking initiatives, sustainable lending practices, green finance tools, climate adaptation strategies, and international cooperation to support local economies.
Hussein al Lawati, CEO of the Oman Development Bank, stated that development finance institutions today stand at a critical crossroads, where public policy intersects with entrepreneurship to direct capital toward vital sectors. He called for the adoption of development models that enhance social cohesion and generate new growth opportunities. He noted that the choice of the theme “Economic Gardening” signifies a fundamental shift in the development philosophy—from importing solutions to empowering internal potential.
Al Lawati emphasised that empowering startups and small and medium enterprises (SMEs), particularly in their advanced stages, is an investment in social stability and innovation, and serves as a cornerstone for building bridges of sustainable opportunity.
Meanwhile, Hamad al Harthy, Head of SME and Microfinance at the Oman Development Bank and General Supervisor of the Conference, said the hosting of this event is the result of ongoing collaboration between the bank and ADFIAP. He highlighted the importance of the conference in strengthening partnerships, sharing successful experiences, and offering solutions to the challenges faced by development finance institutions.
He added that Oman has benefited from its ADFIAP membership through exchange visits with regional development banks, the signing of memoranda of understanding, and the organization of specialized training workshops, all of which have contributed to capacity building and the development of national expertise.
Several MoUs will be signed during the conference between regional and international institutions. Additionally, interactive activities will be held, and the final day will feature a cultural tour to the Wilayat of Nizwa in Al Dakhiliyah Governorate to introduce international delegates to Omani heritage and culture.
Dr Kao Thach, ADFIAP Chairman and Delegate of the Royal Government of Cambodia in his capacity as CEO of the Agricultural and Rural Development Bank, emphasized that the “Gardening the Local Economies” reflects a strong focus on empowering local communities and nurturing their development to become more vibrant and dynamic than ever before.
He highlighted the importance of supporting vulnerable sectors at the grassroots level, stressing the need to identify practical ways to uplift these communities. Small and Medium Enterprises (SMEs), he noted, will also be a key focus of the agenda, as they are seen as a catalyst for accelerating economic growth. “If we can nurture SMEs and strengthen their financial position, they will significantly contribute to the overall economy,” he stated.
Dr Thach also pointed to the role of the Urban Development Bank, which is increasingly concentrating its efforts on supporting local communities and businesses. He emphasized the importance of discussing strategies that help people grow from the grassroots up, reinforcing the meeting’s overarching goal of inclusive and sustainable local economic development.
The total number of loan approvals granted by the Development Bank from 2020 to 2024 reached 28,901, with a total value of RO 533.9 million and an annual average of 5,780 approvals worth more than RO 106.7 million. This reflects the bank’s pivotal role in supporting the national economy, promoting entrepreneurship, and driving community development in the Sultanate of Oman.
The industrial sector accounted for the largest share of loan approvals, representing 35.6% of the total value, with RO 190.1 million distributed over 6,784 approvals. This was followed by the fisheries sector, which received 18.9% or RO 101.6 million across 11,326 approvals, and the professional and public services sector, which accounted for 13.1% with RO 70.4 million through 4,051 approvals.
Other approvals were distributed as follows: RO 65.7 million for the tourism services sector across 1,482 approvals, RO 49.2 million for the agricultural and livestock sector with 4,405 approvals, RO 30.9 million for the education services sector through 569 approvals, RO 18 million for the healthcare services sector with 243 approvals, and RO 8.3 million for the mining sector with 41 approvals.
Loan products were also diversified, with the large loans (corporate) product capturing the largest share at 30% with a value of RO 160 million. This was followed by microloans at 26.1% with RO 139.5 million, and working capital loans at 25.1% totaling RO 134.2 million.
Small and medium-sized enterprise (SME) loans reached RO 98.9 million, while seasonal loans accounted for RO 1.3 million. These approvals further underline the Development Bank’s contribution to regional development, as they span across all governorates of Oman. The value of approvals in Muscat Governorate reached RO 134 million, followed by South Al Sharqiyah with RO 88 million, North Al Batinah with RO 81.3 million, South Al Batinah with RO 55.3 million, and Dhofar Governorate with RO 52.7 million
This hosting reflects Oman’s growing stature in the field of development finance and entrepreneurship and reinforces its ambition to become a regional development hub in line with the goals of Oman Vision 2040
In terms of financial performance, data from the Development Bank showed that the total number of loan approvals between 2020 and 2024 reached 28,901, with a total value exceeding RO 533.9 million, and an annual average of more than RO 106.7 million.
These loans were distributed across various sectors, with the industrial sector accounting for 35.6% of total approvals, followed by the fisheries sector at 18.9%, and professional and public services at 13.1%. Approvals also included sectors such as tourism, agriculture, education, health, and mining.
In terms of loan products, large corporate loans accounted for 30% of total approvals, followed by microloans at 26.1%, and working capital financing at 25.1%.
The highest number of approvals was recorded in the governorates of Muscat, South Al Sharqiyah, and North Al Batinah, reaffirming the bank’s role in promoting balanced development across the Sultanate's various regions.