Developing a sustainable sovereign finance framework

Objective

To facilitate the financing of projects with environmental or social benefit in line with Oman Vision 2040.

Overview

The Ministry of Finance developed the Sustainable Finance Framework as part of its efforts to implement Oman Vision 2040. The stages followed by the Ministry of Finance began with formulating the framework, identifying eligible projects for the asset registry, and hiring an external party for evaluation.
The framework covers 14 sectors: energy efficiency, renewable energy, clean transportation, sustainable water and sanitation management, pollution control and reduction, climate change adaptation, sustainable management of land and natural resources, affordable infrastructure, access to basic services in healthcare and education, affordable housing, food security and sustainable food systems, job opportunities including financing for small and medium enterprises, and enabling economic and social progress.
The framework is expected to encourage government and private entities to report on their efforts to achieve net-zero emissions. It is also expected to support capacity building in ministries on environmental, social and governance issues, establish good environmental and societal practices, and attract foreign investments to Oman.
The Sustainable Finance working group, which consists of representatives of ministries, will collect information about the projects and evaluate their eligibility to benefit from financing.

Implementation Phase

Guiding Principles