Muscat: The number of education loans in the Development Bank’s portfolio until the end of 2024 stood at 509 loans worth RO 18.8 million. The portfolio, aimed to serve all governorates of the Sultanate of Oman, reflects the bank’s efforts to support private sector investments in educational fields.

According to Oman News Agency, as many as 138 loans, worth RO 12.8 million, were approved for the education sector during the year 2024. The bank’s statistics reveal a strategic emphasis on fostering educational growth across various segments.

Activities-wise, the general secondary education segment received the greatest value of the loans, totaling RO 3.6 million for 13 loans. This was closely followed by the university colleges segment, which received one loan worth RO 3.5 million. The training services segment benefited from four loans totaling RO 588,000, while the kindergartens segment received 26 loans amounting to RO 257,000.

Region-wise, the Governorate of Muscat accounted for 65% of the value of the approved loans, equivalent to RO 8.3 million. This was followed by North A’Sharqiyah, which captured 18% of the loan value, amounting to RO 2.3 million, and North Al Batinah, which accounted for 9% worth RO 1.1 million.