Muscat: The 48th Annual Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), hosted by the Sultanate of Oman and represented by the Development Bank (DB), will be held from 23 to 25 April 2025 at the Mandarin Oriental Muscat.
The meeting will address topics such as community economic empowerment and the impact of development in Oman, the human factor in building entrepreneurial communities, aligning capital with development goals, and financing resilience to build sustainable economies.
The opening of the meeting will be held under the patronage of Eng. Said bin Hamoud Al Maawali, Minister of Transport, Communications and Information Technology. This year’s meeting is held under the theme ‘Economic Gardening and Development,’ highlighting the role of development financing in supporting the national economy. The event brings together around 300 participants from over 40 countries, including a distinguished group of decision-makers, experts and specialists in finance and development from both within and outside the Sultanate of Oman.
The meeting will showcase initiatives in green banking, sustainable lending practices, environmental risk management, and innovative green financing tools. It will also explore climate resilience strategies, innovative financial instruments, international cooperation to build resilience, and the vital role of second-tier institutions in driving local economic growth and sustainability.
The meeting aims to facilitate the exchange of knowledge and expertise among participants on ways to empower communities and achieve sustainable economic development. It also includes discussions on key issues such as green finance and the role of financial institutions in addressing climate challenges, contributing to enhanced economic resilience and the achievement of sustainable development goals.
Hamad bin Salim Al Harthy, Chief MSME & Portfolio Management at DB and General Supervisor of the Meeting, emphasised the importance of the event, noting that it contributes to strengthening effective partnerships, empowering communities, and achieving sustainable economic development through the exchange of ideas and successful experiences.
He added that the meeting presents a unique opportunity to discuss the challenges facing financing institutions and ways to overcome them through international cooperation. He explained that hosting the meeting was the result of prior coordination, as the bank is an active member of this global association.
Al Harthy noted that the association, founded in 1976, comprises development financing institutions and development banks serving various economic sectors across 97 countries, with around 100 member institutions. He highlighted that the Sultanate of Oman joined the association in 2019, at a time when the bank was seeking partnerships and similar banking organisations to benefit from their experiences, particularly in addressing sustainability challenges.
He confirmed that since joining, the bank has participated in numerous meetings and is among the first Arab banks to become a member of the association, with the Kingdom of Saudi Arabia joining later. He added that the meeting features a fixed agenda, including meetings of the Board of Directors and the General Assembly, during which sustainability initiative awards are presented at both institutional and individual levels. DB has received several of these awards from development banks and institutions.
Al Harthy explained that Oman’s membership in the association has enabled access to a wealth of studies and practical experiences, the organisation of exchange visits with development banks in Malaysia, the signing of memoranda of understanding with member banks, and the delivery of training workshops for the bank’s staff.
He stated that the DB offers microfinance products targeted at individuals running home-based micro-enterprises or small businesses in need of development and additional capital. The objectives of microfinance include empowering individuals to become productive members of society, creating job opportunities for youth, supporting the culture of entrepreneurship, and promoting innovation and creative ideas.
The meeting will also feature the signing of several memoranda of understanding between regional and international development institutions, aimed at strengthening cooperation in financing. It will include interactive sessions, and on the final day, participants will be taken on a tour to Nizwa in Al Dakhiliyah Governorate, as part of efforts to familiarise international guests with Oman’s rich history and culture. This tour will offer participants a chance to discover the cultural heritage of Oman and engage with the local community.
Hosting the event in Muscat reflects the Oman’s growing prominence in development finance and its support for entrepreneurship and small and medium enterprises. It is also a valuable opportunity to enhance international cooperation and exchange best practices in the sector, contributing to sustainable development. Oman aspires to reinforce its position as a regional hub for finance and development in line with the strategic goals of Oman Vision 2040.
© Muscat Media Group Provided by SyndiGate Media Inc. (Syndigate.info).
