Monday 07 / April / 2025
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 OMR235 million in financing, marking an 84% increase from the previous year. SME lending also saw a significant rise of 64.8%, reaching OMR39 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.
