Muscat – Development Bank granted 509 loans worth RO18.8mn in 2024 to strengthen Oman’s education sector and encourage private investment. The funding supports various segments, including general education, university projects, private training services, and kindergartens.
The general secondary education sector received the highest share, with 13 loans totalling RO3.6mn.
A single project in the university and college sector secured a loan of RO3.5mn, while training services and kindergartens received RO588,000 and RO257,000, respectively.
Muscat accounted for the largest portion of the funding, receiving RO8.3mn, or 65% of the total, followed by North Sharqiyah with RO2.3mn (18%) and North Batinah with RO1.1mn (9%).
Yousef bin Mohammed al Awini, Director of SME Financing at Development Bank, said it is committed to supporting the education sector, which has been a priority since its inception. “Our financial support, through subsidised interest rates and flexible loan terms, aims to drive educational growth and stimulate private sector participation,” he added.
