Oman to Host New World Bank Group Office: What This Means for Business Growth and Investment Opportunities in Oman
WASHINGTON: The Government of the Sultanate of Oman has formalized a landmark agreement with the World Bank Group to establish a dedicated representative office within Oman. This development marks a significant advancement in enhancing Oman’s global financial and economic collaborations.
The agreement was signed by Sultan bin Salim al Habsi, Minister of Finance, alongside Ajay Banga, President of the World Bank Group. The new office will serve as a joint representation for several World Bank Group entities, 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).
This office reflects Oman’s rising prominence as a regional center for international cooperation and signals strong global confidence in the country’s economic stability and investment environment. It will offer technical and advisory support to both public and private sectors, facilitate knowledge transfer, and aid in capacity building for Omani professionals.
Additionally, the office will oversee the implementation of private sector projects funded by World Bank Group institutions, promote foreign investment, and encourage increased private sector involvement in developmental initiatives. It is also expected to boost the competitiveness of local businesses and improve their access to international markets.
In 2025, Omani private companies entered into several agreements with the IFC to finance major private sector projects and enhance financing options for small and medium-sized enterprises (SMEs). The World Bank Group has also delivered numerous training programs aimed at developing national expertise in finance, economics, and statistics, along with initiatives promoting experience sharing and best practice adoption.
Since joining the World Bank Group in 1971, Oman has continually benefited from the Group’s comprehensive advisory, technical, and financial services designed to support sustainable economic growth. — ONA
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The establishment of the World Bank Group’s representative office in Oman signals increased global confidence and positions Oman as a regional hub for economic cooperation. For businesses, this creates opportunities to access enhanced financing, technical support, and international markets, while smart investors should consider leveraging new public-private partnerships and SME growth initiatives driven by global expertise and funding. However, they must also remain vigilant about aligning with evolving regulatory frameworks and competitiveness standards introduced through this collaboration.
