National Finance, a leading finance company in Oman, has entered a partnership with the International Finance Corporation (IFC), a member of the World Bank Group, to advance sustainable finance in Oman. 

 

This collaboration was formalised during a signing ceremony held on the World Bank Group Day in Muscat, Oman, marking the successful finalisation of key agreements between the two institutions. 

The partnership underscores National Finance’s growing role in driving the transition towards a greener economy, aligning with Oman Vision 2040. 

 

IFC’s $120 million loan for sustainability projects will enable the company to expand its sustainable finance portfolio, with a focus on electric vehicle (EV) financing, green finance offerings, renewable energy projects. By embedding sustainability across its operations, National Finance continues to play a vital role in supporting the nation’s broader environmental agenda, delivering impactful financial solutions that contribute to a low-carbon future, the company said.

 

Tariq Sulaiman Al Farsi, Chief Executive Officer at National Finance, said: “This partnership with IFC is both a recognition and reinforcement of our sustainability journey. By joining forces with a world-renowned institution, we are accelerating the implementation of our green finance initiatives and creating long-term value for our stakeholders and the communities we serve. It is a significant step in our mission to foster sustainable economic progress in the Sultanate of Oman.”

 

With this investment, IFC aims to share its capital, expertise, and influence to advance sustainable finance in Oman.

 

Momina Aijazuddin, IFC’s Regional Head of Industry, added: "Small and medium enterprises may be modest in size, but their impact is profound. They are every economy’s growth engine. With this in mind, this $120 million investment represents a significant milestone for Oman—our first in the country’s non-bank financial sector in nearly two decades. Beyond enhancing the resilience of the financial market, this transaction aims to advance sustainability by empowering businesses to spearhead climate-related projects from the ground up." – TradeArabia News Service