National Finance, Oman’s leading finance company, has partnered with the International Finance Corporation (IFC), a member of the World Bank Group, announced during the World Bank Group Day in Muscat.
This partnership highlights National Finance’s role in supporting the transition towards a greener economy, in line with the objectives of Oman Vision 2040. IFC’s $120 million loan for sustainability projects will enable the company to expand its sustainable finance portfolio, with a focus on electric vehicle (EV) financing, green finance offerings, renewable energy projects.
With this strategic investment, IFC, as the leading institution focused on the private sector in emerging markets, aims to share its capital, expertise, and influence to advance sustainable finance in Oman.
Tariq Sulaiman Al Farsi Chief Executive Officer – National Finance
“This partnership with IFC is both a recognition and reinforcement of our sustainability journey. By joining forces with a world-renowned institution, we are accelerating the implementation of our green finance initiatives and creating long-term value for our stakeholders and the communities we serve. It is a significant step in our mission to foster sustainable economic progress in the Sultanate of Oman.”
Momina Aijazuddin, IFC’s Regional Head of Industry, added that, “Small and medium enterprises may be modest in size, but their impact is profound. They are every economy’s growth engine. With this in mind, this $120 million investment represents a significant milestone for Oman—our first in the country’s non-bank financial sector in nearly two decades. Beyond enhancing the resilience of the financial market, this transaction aims to advance sustainability by empowering businesses to spearhead climate-related projects from the ground up.”
The collaboration also validates National Finance’s sustainability framework, which focuses on driving sustainable economic growth, strengthening communities, and minimizing environmental impact. These goals are driven through four strategic pillars: Environment, Social, Operations, and Governance, underpinned by initiatives such as the Green Campus Programme, and the launch of green auto finance for EVs as well as solar energy and paper recycling bins.
Additionally, National Finance has developed a dedicated Environmental and Social Management System (ESMS), which introduces a standardized procedure for ESG due diligence across all projects.
National Finance’s cross-functional Sustainability Taskforce ensures alignment across the organization, which is overlooked by the Head of Sustainability and reports to the CEO. The Head, accountable for ESG matters, reports directly to the CEO, who, in turn, ensures Board-level oversight of all sustainability initiatives. This structure facilitates the smooth integration of ESG practices across departments.
As Oman advances its efforts towards climate goals and economic diversification, National Finance’s collaboration with IFC marks a significant step forward— leveraging global expertise to deliver resilient financial solutions that meet evolving market needs and address key environmental imperatives.
