MUSCAT: In a more connected world, the potential to attract private capital has become central to achieving sustainable development. Speaking at the MSX Chairman’s Dialogue event held here on Monday, November 10, 2025, Wendy Werner, Country Manager — Oman, World Bank Group, highlighted the importance of “maximising finance for development”, focusing on how governments and private investors can work together to drive inclusive growth and create resilient economies.

The event underscored the solid partnership between Oman and the World Bank Group, which has supported the development journey of the Sultanate of Oman since it joined the institution in 1971. The discussion falls exactly at a very important point as Oman accelerates its national transformation according to Oman Vision 2040 towards a diversified, competitive economy empowered by private sector innovation and investment.

“The World Bank Group is working closely with the Government of Oman and the private sector to bring knowledge, tools and financing solutions that can help realise Oman Vision 2040”, said Werner. “Mobilising finance for development is key to achieving this ambition”.

The current financing gap for development around the world is daunting. The UN estimates that an additional $4 trillion of investment annually is required to achieve the SDGs by 2030. These needs are way out of reach of what is currently available through international development assistance. Global financial institutions together manage trillions in assets, yet only a fraction of this is channelled into emerging markets or projects with direct social impact.

In Oman, reaching Net Zero by 2050 will need approximately $230 billion in capital investment, while projects in renewable energy, sustainable infrastructure and digital innovation are some of the central pillars of Oman Vision 2040. “Governments cannot meet these challenges alone”, Werner noted. “Private investment must play a transformative role in creating jobs, enabling climate action and sustaining growth”.

The private capital mobilisation was made a strategic priority of the World Bank Group to leverage partnerships and innovative instruments to attract commercial finance into development sectors. Between 2021 and 2025, the Group mobilised $242 billion globally through initiatives that blended public and private investment.

This would include notable projects such as the São Paulo sewage treatment project in Brazil, where the World Bank Group assisted in mobilising $4 billion in private and institutional financing. That project expanded clean water access for almost four million people while enhancing urban infrastructure. Such models show how public–private partnerships can align commercial interests with social objectives, a concept increasingly relevant for Oman’s infrastructure and sustainability ambition.

Another important tool to unlock private finance is the World Bank Group’s Guarantee Platform, launched in 2024, which provides credit guarantees, risk-sharing mechanisms and policy support to help investors manage risk and confidently invest in emerging markets like Oman.

As Oman continues to deepen reforms to attract investment and foster entrepreneurship, partnerships with international financial institutions will be key. “Maximising finance for development is not just about funding”, concluded Werner.

“It is about creating the right environment for private investment to thrive-driving prosperity for people, the economy and the planet. That is what Oman Vision 2040 is all about”.

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