MUSCAT : The new office will serve as a hub for the World Bank Group’s affiliated 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 agreement was signed by His Excellency Sultan bin Salem Al Habsi, Minister of Finance, and Ajay Banga, President of the World Bank Group.

The establishment of the office is a strategic step that reinforces Oman’s regional standing as a center for international cooperation and partnerships, and reflects the growing confidence of the global financial and investment community in Oman’s economy, policies, and development direction.

The new office will play a vital role in:

• Strengthening the Sultanate of Oman’s regional standing as a hub for international cooperation and
• Providing technical and advisory service the public and private sectors.
• Transferring knowledge and building the capacities of the national cadres.
• Supporting and overseeing the implementation of private sector projects financed by institutions affiliated with the WBG.
• Encouraging private-sector participation in development projects.
• Fostering the growth of local companies to enable international expansion.

In 2025, several agreements were also signed between Omani private sector companies and the International Finance Corporation (IFC) to finance key private projects. These agreements further expanded the financing portfolio available to small and medium-sized enterprises (SMEs) in Oman.

The World Bank Group has also conducted numerous training programs to support skills development and knowledge exchange. These initiatives aim to equip Omani professionals with expertise in areas such as finance, economics, statistics, and investment policy—while also offering exposure to international best practices and technical consultations.

Oman has been a member of the World Bank Group since 1971, leveraging its membership to access technical support, advisory services, and development financing that contribute to national growth and economic resilience.

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