Oman Development Bank Finances 20,000 Micro-projects Worth $260m

The milestone reflects balanced regional development, with financing distributed across all governorates, translating government policies—led by the Ministry of Finance—into tangible results.

The achievement underscores the bank’s commitment to empowering individuals and families through self-employment while advancing the goals of Oman Vision 2040, which places citizens at the centre of development.

Oman Development Bank

The Ministry of Finance plays a pivotal role in supporting micro-projects by backing the establishment of the Development Bank as a national financing institution dedicated to productive and service-based ventures.

Acting as the executive arm of Oman’s economic empowerment policies, the ministry directs financing toward priority groups to ensure equitable distribution and balanced growth across governorates, while also covering interest costs for projects managed by individuals running their own businesses.

The lending portfolio spans several sectors, with the fisheries industry leading through 8,761 loans worth approximately OR38.5m ($99.6m).

The agriculture and livestock sector received 3,805 loans, representing 19 per cent of the total portfolio, while the handicrafts sector secured 2,898 loans, accounting for 10 per cent of total financing.

These sectors are key to national food security and remain deeply rooted in Omani society as traditional and sustainable professions that provide reliable income, particularly in rural and coastal regions.

Oman startups

The Development Bank continues to prioritise startup projects, recognising that many of Oman’s large enterprises began as small ideas that succeeded with early-stage financial support.

This strategy aligns with the government’s goal of fostering innovation, self-employment, and inclusive economic growth across the Sultanate.