Development Bank Loan Approvals Surge 13% to RO 110 Million in H1 2025: Implications for Oman’s Business Growth and Investment Landscape

• By Oman Market
• July 27, 2025July 28, 2025
• economic growth loans Oman
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Development Bank Approves 3,716 Loans Valued at RO 110 Million in H1 2025

MUSCAT, JULY 27 – The Development Bank has sanctioned 3,716 loans totaling RO 110 million ($286 million) in the first half of 2025, representing a 13% increase compared to the same period last year. This growth underscores the bank’s dedication to advancing Oman Vision 2040 by promoting economic diversification and bolstering the private sector across the nation.

Hamad al Harthi, Chief of MSME & Portfolio Management at the Development Bank, stated, “The loans and programs we provide contribute substantial added value to our national economy. We are addressing food security needs, reducing reliance on imports, and encouraging entrepreneurs to seize new opportunities.” The bank’s success is attributed to its customized approach, which recognizes the unique requirements of businesses at various development stages. “We craft solutions that align with their business strategies,” Al Harthi noted, facilitating growth for both start-ups and established enterprises.

In alignment with this comprehensive strategy, the financing for the first half of the year was distributed across several key economic sectors essential for national development. The manufacturing sector received the highest allocation of RO 38 million ($99 million), highlighting its crucial role in diminishing import dependence. General professional services were allocated RO 19 million ($49 million), while traditional sectors also received significant support: fisheries at RO 14 million ($36 million), agriculture at RO 9 million ($23 million), and mining at RO 8 million ($21 million).

This sector-specific approach was complemented by a broad geographical outreach throughout Oman. Muscat Governorate received RO 25 million ($65 million), while North Al Batinah and South Al Sharqiyah were allocated RO 18 million ($47 million) and RO 14 million ($36 million) respectively. South Al Batinah and Al Wusta Governorate also benefited, receiving RO 11 million ($29 million) and RO 8 million ($21 million) respectively, ensuring that developmental opportunities are accessible to communities nationwide.

The uptick in lending reflects the bank’s commitment to supporting enterprises of all sizes, from start-ups and SMEs to larger corporations. This approach empowers entrepreneurs to pursue projects in growth-oriented sectors while maximizing local value creation and aligning with Oman’s strategic economic objectives.

As a vital player within the ecosystem of government organizations supporting Oman Vision 2040, Development Bank continues to provide resources and incentives aimed at strengthening national industries and promoting in-country value. “Our shared goal is sustainable and inclusive progress,” Al Harthi concluded. “We are proud that our support is enabling ambitious, growing companies to realize their potential while contributing to economic transformation.”

Development Bank is a crucial facilitator of economic growth, offering innovative financial solutions that support Oman’s Vision 2040 and the transition to a diversified, sustainable economy. The bank provides tailored financial products and services across various sectors, including agriculture, fisheries, tourism, manufacturing, renewable energy, health, education, and logistics, focusing on projects that drive in-country value and create jobs.

Caption: Financing in H1 2025 was strategically allocated across critical economic sectors, driving national development.

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The Development Bank’s approval of 3,716 loans totaling RO 110 million signals a robust commitment to economic diversification in Oman, providing a vital growth engine for both start-ups and established businesses. This presents significant opportunities for smart investors and entrepreneurs to leverage funding in sectors like manufacturing, agriculture, and fisheries, while also navigating the risks of increasing competition as the private sector expands. Future-focused businesses should consider aligning their strategies with the bank’s areas of emphasis to maximize potential benefits and contribute to Oman’s Vision 2040 goals.