WASHINGTON: The Government of the Sultanate of Oman has signed an agreement with the World Bank Group to establish a representative office in the Sultanate of Oman, marking a significant milestone in strengthening Oman’s global financial and economic partnerships.
The agreement was signed by Sultan bin Salim al Habsi, Minister of Finance; and Ajay Banga, President of the World Bank Group. The new office will represent several World Bank Group institutions, including the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).
The establishment of the office underscores Oman’s growing role as a regional hub for international cooperation and reflects global confidence in the country’s economic stability and investment climate. The office will provide technical and advisory services to both the public and private sectors, facilitate knowledge transfer and support capacity building for Omani professionals.
It will also help monitor the implementation of private sector projects financed by World Bank-affiliated institutions, promote foreign investment and encourage greater private sector participation in development projects. Furthermore, it is expected to strengthen the competitiveness of local enterprises and enhance their access to international markets.
In 2025, several agreements were signed between Omani private companies and the IFC to finance major private sector projects and expand financing channels for small and medium-sized enterprises (SMEs). The World Bank Group has also delivered various training programmes to develop national expertise in finance, economics and statistics, alongside initiatives for experience exchange and best practice adoption.
Oman, which joined the World Bank Group in 1971, continues to benefit from its wide range of advisory, technical, and financial services aimed at fostering sustainable economic growth. — ONA
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