25/05/2026 00:32 AST
Oman's development lending fell 9 percent in 2025 as financing activity slowed across several sectors, despite continued support for industries targeted under the sultanate's economic diversification strategy.
Total loans granted during the year stood at 213.8 million Omani rials ($556 million), distributed across 7,106 projects, according to data from the National Centre for Statistics and Information cited by Oman News Agency.
The industrial sector attracted the largest share of lending at 71 million rials, accounting for 33.2 percent of the total, highlighting the government's continued push to expand manufacturing and industrial activity beyond hydrocarbons.
Tourism, professional and public services received 66.3 million rials, or 31 percent of total lending, while the fisheries sector accounted for 31.6 million rials, representing 14.8 percent.
The figures underscore Oman's efforts to advance its Vision 2040 strategy, which aims to reduce dependence on oil revenue by expanding sectors including tourism, logistics, mining, manufacturing and fisheries.
"The mining sector recorded a percentage jump from 0.7 percent in 2024 to 4.8 percent during 2025, with a value exceeding 10.3 million Omani rials," ONA reported.
Regionally, the South Al Batinah and North Al Batinah governorates received the largest share of financing, accounting for 24.9 percent of total loans valued at 53.3 million rials across 1,617 projects.
Muscat Governorate ranked second with 50.2 million rials, equivalent to 23.5 percent of total lending, followed by the South and North Al Sharqiyah governorates with a combined 35.5 million rials.
Al Wusta Governorate increased its share of lending to 6.5 percent in 2025 from 3.6 percent a year earlier, while Al Buraimi Governorate received the smallest allocation at 1.8 percent.
Housing finance activity continued to grow during the year, with loan values rising to 151.8 million rials from 145.1 million rials in 2024, reflecting an increase of more than 4.6 percent.
The number of housing loan beneficiaries edged up to 3,277 from 3,250 a year earlier.
Most housing loans issued by Oman Housing Bank were concentrated in the monthly income bracket of 701 to 1,000 rials, accounting for 75.8 percent of total housing finance, equivalent to 115 million rials across 2,456 loans.
Borrowers earning up to 400 rials accounted for 16.8 percent of housing loans, while those with monthly incomes above 1,000 rials represented 6.7 percent.
Arab News
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