Muscat – Aimed at enhancing the education sector across the Sultanate, these loans are part of the Bank’s ongoing efforts to support various educational fields and encourage private sector investment in education.

According to the latest statistics from the bank, 138 loans were approved in 2024, totalling RO 12.8 million. Among the loan categories, the general secondary education sector received the largest share, with 13 loans amounting to RO 3.6 million. University colleges followed closely with a loan of RO 3.5 million for one project, while training services and kindergarten activities received RO 588,000 and RO 257,000, respectively.

Governorate-wise distribution shows that Muscat accounted for the largest portion of the approved loans, receiving RO 8.3 million, or 65 percentage of the total. North Al Sharqiyah Governorate followed with RO 2.3 million (18 percent), and North Al Batinah Governorate received RO 1.1 million, representing 9 percent of the loans.

Yousef bin Mohammed Al Awini, Director of the Small and Medium Enterprises Financing Department at the Development Bank, emphasized the bank’s long-standing commitment to supporting the education sector, which has been a priority since its establishment. He noted that education plays a crucial role in promoting public education and enhancing educational opportunities across the country.

In a statement to the Oman News Agency, Al Awini added that the bank’s financing not only supports the growth of educational initiatives but also encourages the private sector to invest in educational fields by offering subsidized interest rates and flexible loan terms, including grace periods and repayment facilities.