National Finance, a leading finance company in Oman, has established a strategic partnership with the International Finance Corporation (IFC), part of the World Bank Group. This partnership, announced during a signing ceremony in Muscat, aims to promote sustainable development goals in Oman and aligns with the country’s Vision 2040.

The collaboration includes a significant $120 million loan from IFC aimed at enhancing National Finance’s sustainable finance portfolio. This funding will primarily support projects related to electric vehicle (EV) financing, green finance offerings, and renewable energy initiatives. National Finance is committed to embedding sustainability into its operations, thereby contributing to a low-carbon future for Oman.

IFC, the largest global development institution focused on the private sector in emerging markets, aims to leverage its capital and expertise to advance sustainable finance in Oman. Momina Aijazuddin, IFC’s Regional Head of Industry, remarked that the $120 million investment marks a significant milestone, being the first in Oman’s non-bank financial sector in nearly two decades. She highlighted the importance of small and medium enterprises as the growth engine of the economy.

To support the effective delivery of its sustainability strategy, National Finance has established a cross-functional Sustainability Taskforce led by the Head of Sustainability, who reports directly to the CEO. This structure ensures that environmental, social, and governance (ESG) practices are integrated across all levels of the organization.

As Oman continues to pursue its climate goals and economic diversification, the partnership between National Finance and IFC represents a forward-looking strategy that aims to deliver resilient financial solutions while addressing critical environmental challenges.