Latest news with #AssociationofDevelopmentFinancingInstitutionsinAsiaandthePacific
Observer
23-04-2025
- Business
- Observer
48th ADFIAP annual meeting kicks off in Muscat
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.
Zawya
21-04-2025
- Business
- Zawya
Oman: ADFIAP forum to focus on role of development financing
Muscat: The 48th Annual Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), hosted by the Sultanate of Oman and represented by the Development Bank (DB), will be held from 23 to 25 April 2025 at the Mandarin Oriental Muscat. The meeting will address topics such as community economic empowerment and the impact of development in Oman, the human factor in building entrepreneurial communities, aligning capital with development goals, and financing resilience to build sustainable economies. The opening of the meeting will be held under the patronage of Eng. Said bin Hamoud Al Maawali, Minister of Transport, Communications and Information Technology. This year's meeting is held under the theme 'Economic Gardening and Development,' highlighting the role of development financing in supporting the national economy. The event brings together around 300 participants from over 40 countries, including a distinguished group of decision-makers, experts and specialists in finance and development from both within and outside the Sultanate of Oman. The meeting will showcase initiatives in green banking, sustainable lending practices, environmental risk management, and innovative green financing tools. It will also explore climate resilience strategies, innovative financial instruments, international cooperation to build resilience, and the vital role of second-tier institutions in driving local economic growth and sustainability. The meeting aims to facilitate the exchange of knowledge and expertise among participants on ways to empower communities and achieve sustainable economic development. It also includes discussions on key issues such as green finance and the role of financial institutions in addressing climate challenges, contributing to enhanced economic resilience and the achievement of sustainable development goals. Hamad bin Salim Al Harthy, Chief MSME & Portfolio Management at DB and General Supervisor of the Meeting, emphasised the importance of the event, noting that it contributes to strengthening effective partnerships, empowering communities, and achieving sustainable economic development through the exchange of ideas and successful experiences. He added that the meeting presents a unique opportunity to discuss the challenges facing financing institutions and ways to overcome them through international cooperation. He explained that hosting the meeting was the result of prior coordination, as the bank is an active member of this global association. Al Harthy noted that the association, founded in 1976, comprises development financing institutions and development banks serving various economic sectors across 97 countries, with around 100 member institutions. He highlighted that the Sultanate of Oman joined the association in 2019, at a time when the bank was seeking partnerships and similar banking organisations to benefit from their experiences, particularly in addressing sustainability challenges. He confirmed that since joining, the bank has participated in numerous meetings and is among the first Arab banks to become a member of the association, with the Kingdom of Saudi Arabia joining later. He added that the meeting features a fixed agenda, including meetings of the Board of Directors and the General Assembly, during which sustainability initiative awards are presented at both institutional and individual levels. DB has received several of these awards from development banks and institutions. Al Harthy explained that Oman's membership in the association has enabled access to a wealth of studies and practical experiences, the organisation of exchange visits with development banks in Malaysia, the signing of memoranda of understanding with member banks, and the delivery of training workshops for the bank's staff. He stated that the DB offers microfinance products targeted at individuals running home-based micro-enterprises or small businesses in need of development and additional capital. The objectives of microfinance include empowering individuals to become productive members of society, creating job opportunities for youth, supporting the culture of entrepreneurship, and promoting innovation and creative ideas. The meeting will also feature the signing of several memoranda of understanding between regional and international development institutions, aimed at strengthening cooperation in financing. It will include interactive sessions, and on the final day, participants will be taken on a tour to Nizwa in Al Dakhiliyah Governorate, as part of efforts to familiarise international guests with Oman's rich history and culture. This tour will offer participants a chance to discover the cultural heritage of Oman and engage with the local community. Hosting the event in Muscat reflects the Oman's growing prominence in development finance and its support for entrepreneurship and small and medium enterprises. It is also a valuable opportunity to enhance international cooperation and exchange best practices in the sector, contributing to sustainable development. Oman aspires to reinforce its position as a regional hub for finance and development in line with the strategic goals of Oman Vision 2040. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
19-04-2025
- Business
- Times of Oman
ADFIAP forum to focus on role of development financing
Muscat: The 48th Annual Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), hosted by the Sultanate of Oman and represented by the Development Bank (DB), will be held from 23 to 25 April 2025 at the Mandarin Oriental Muscat. The meeting will address topics such as community economic empowerment and the impact of development in Oman, the human factor in building entrepreneurial communities, aligning capital with development goals, and financing resilience to build sustainable economies. The opening of the meeting will be held under the patronage of Eng. Said bin Hamoud Al Maawali, Minister of Transport, Communications and Information Technology. This year's meeting is held under the theme 'Economic Gardening and Development,' highlighting the role of development financing in supporting the national economy. The event brings together around 300 participants from over 40 countries, including a distinguished group of decision-makers, experts and specialists in finance and development from both within and outside the Sultanate of Oman. The meeting will showcase initiatives in green banking, sustainable lending practices, environmental risk management, and innovative green financing tools. It will also explore climate resilience strategies, innovative financial instruments, international cooperation to build resilience, and the vital role of second-tier institutions in driving local economic growth and sustainability. The meeting aims to facilitate the exchange of knowledge and expertise among participants on ways to empower communities and achieve sustainable economic development. It also includes discussions on key issues such as green finance and the role of financial institutions in addressing climate challenges, contributing to enhanced economic resilience and the achievement of sustainable development goals. Hamad bin Salim Al Harthy, Chief MSME & Portfolio Management at DB and General Supervisor of the Meeting, emphasised the importance of the event, noting that it contributes to strengthening effective partnerships, empowering communities, and achieving sustainable economic development through the exchange of ideas and successful experiences. He added that the meeting presents a unique opportunity to discuss the challenges facing financing institutions and ways to overcome them through international cooperation. He explained that hosting the meeting was the result of prior coordination, as the bank is an active member of this global association. Al Harthy noted that the association, founded in 1976, comprises development financing institutions and development banks serving various economic sectors across 97 countries, with around 100 member institutions. He highlighted that the Sultanate of Oman joined the association in 2019, at a time when the bank was seeking partnerships and similar banking organisations to benefit from their experiences, particularly in addressing sustainability challenges. He confirmed that since joining, the bank has participated in numerous meetings and is among the first Arab banks to become a member of the association, with the Kingdom of Saudi Arabia joining later. He added that the meeting features a fixed agenda, including meetings of the Board of Directors and the General Assembly, during which sustainability initiative awards are presented at both institutional and individual levels. DB has received several of these awards from development banks and institutions. Al Harthy explained that Oman's membership in the association has enabled access to a wealth of studies and practical experiences, the organisation of exchange visits with development banks in Malaysia, the signing of memoranda of understanding with member banks, and the delivery of training workshops for the bank's staff. He stated that the DB offers microfinance products targeted at individuals running home-based micro-enterprises or small businesses in need of development and additional capital. The objectives of microfinance include empowering individuals to become productive members of society, creating job opportunities for youth, supporting the culture of entrepreneurship, and promoting innovation and creative ideas. The meeting will also feature the signing of several memoranda of understanding between regional and international development institutions, aimed at strengthening cooperation in financing. It will include interactive sessions, and on the final day, participants will be taken on a tour to Nizwa in Al Dakhiliyah Governorate, as part of efforts to familiarise international guests with Oman's rich history and culture. This tour will offer participants a chance to discover the cultural heritage of Oman and engage with the local community. Hosting the event in Muscat reflects the Oman's growing prominence in development finance and its support for entrepreneurship and small and medium enterprises. It is also a valuable opportunity to enhance international cooperation and exchange best practices in the sector, contributing to sustainable development. Oman aspires to reinforce its position as a regional hub for finance and development in line with the strategic goals of Oman Vision 2040.
Zawya
08-04-2025
- Business
- Zawya
Oman to host major Asia-Pacific Development Finance meeting
Muscat: Development Bank will host the 48th Annual Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) 22-24 April 2025 at the Mandarin Oriental Hotel in Muscat. Aligned with the innovation, sustainability and human capital development pillars of Oman Vision 2040, the event brings together over 90 member institutions from 40 countries to delve into issues such as sustainable economic growth, enhancing financial inclusion and mobilizing resources for climate action and infrastructure projects. Expressing Development Bank's pride in being selected to host the prestigious financial association's flagship event, His Excellency Mahmood Al Aweini, Chairman, Development Bank commented: 'April's meeting will explore topics very much pertinent to Oman Vision 2040. These range from building entrepreneurial ecosystems and aligning capital with development objectives and advancing green finance and sustainability. A key focus will be on economic gardening - supporting the growth of existing businesses and providing tailored resources for Stage II companies which are typically past the start-up phase and looking to scale – something Development Bank is actively involved in across Oman. Discussions will also cover strategies for enhancing economic resilience, empowering businesses for sustainable growth and fostering collaboration and knowledge sharing.' The ADFIAP gathering is part of a broader global effort by development banks to address the challenges of development finance as they increase their focus on supporting the UN's Sustainable Development Goals (SDGs) with a particular emphasis on advancing climate action and promoting inclusive economic growth. Hussain Al Lawati, CEO, Development Bank added: 'As part of our ongoing commitment to sustainable development, we are proud to contribute to global efforts by strengthening partnerships that advance the SDGs. The Asia-Pacific region, with its rapidly growing economies and major infrastructure needs, plays a critical role in this agenda. By fostering collaboration between public and private sector stakeholders, this year's ADFIAP meeting aims to strengthen regional cooperation and mobilize the necessary resources for these ambitious goals. I have no doubt the event will contribute to shaping the future of development finance in the Asia-Pacific region' Development Bank continues to play a leading role in supporting Omani businesses through a wide range of products and services. In 2024, the bank provided US$608.5 million in financing, marking an 84% increase from the previous year. SME lending also saw a significant rise of 64.8%, reaching US$100.7 million, supporting thousands of businesses nationwide. This commitment to sustainable financing aligns with the bank's strategic focus on fostering economic resilience and inclusive growth, themes that will be central to discussions at the upcoming ADFIAP Annual Meeting. For press enquiries contact Mohammed Al Saqlawi Marketing Specialist Development Bank PO Box Ruwi Sultanate of Oman Tel: (+968) 92 29 26 99 Email:
Observer
07-04-2025
- Business
- Observer
Oman to host ADFIAP Finance meeting
MUSCAT, APRIL 7 Development Bank will host the 48th Annual Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) during April 22-24, 2025 at the Mandarin Oriental Hotel in Muscat. Aligned with the innovation, sustainability and human capital development pillars of Oman Vision 2040, the event brings together over 90 member institutions from 40 countries to delve into issues such as sustainable economic growth, enhancing financial inclusion and mobilizing resources for climate action and infrastructure projects. Expressing Development Bank's pride in being selected to host the prestigious financial association's flagship event, Mahmood al Aweini, Chairman, Development Bank commented: 'April's meeting will explore topics very much pertinent to Oman Vision 2040. These range from building entrepreneurial ecosystems and aligning capital with development objectives and advancing green finance and sustainability. A key focus will be on economic gardening - supporting the growth of existing businesses and providing tailored resources for Stage II companies which are typically past the start-up phase and looking to scale – something Development Bank is actively involved in across Oman. Discussions will also cover strategies for enhancing economic resilience, empowering businesses for sustainable growth and fostering collaboration and knowledge sharing.' The ADFIAP gathering is part of a broader global effort by development banks to address the challenges of development finance as they increase their focus on supporting the UN's Sustainable Development Goals (SDGs) with a particular emphasis on advancing climate action and promoting inclusive economic growth. Hussain al Lawati, CEO, Development Bank added: 'As part of our ongoing commitment to sustainable development, we are proud to contribute to global efforts by strengthening partnerships that advance the SDGs. The Asia-Pacific region, with its rapidly growing economies and major infrastructure needs, plays a critical role in this agenda. By fostering collaboration between public and private sector stakeholders, this year's ADFIAP meeting aims to strengthen regional cooperation and mobilize the necessary resources for these ambitious goals. I have no doubt the event will contribute to shaping the future of development finance in the Asia-Pacific region' Development Bank continues to play a leading role in supporting Omani businesses through a wide range of products and services. In 2024, the bank provided RO 235 million in financing, marking an 84 per cent increase from the previous year. SME lending also saw a significant rise of 64.8 per cent, reaching RO 39 million, supporting businesses nationwide. This commitment to sustainable financing aligns with the bank's strategic focus on fostering economic resilience and inclusive growth, themes that will be central to discussions at the upcoming ADFIAP Annual Meeting.
