2019-03-04

Sultanate to host AIIB Board of Directors

Muscat: A delegation from the Board of Directors of the Asian Infrastructure Investment Bank (AIIB) will visit the Sultanate today on a 4-day visit to meet with key officials from both the public and private sectors.   

 The visit is part of AIIB’s country engagement program, and is organized in collaboration with State General Reserve Fund, on the theme of “Oman’s Plan to Diversify from Fossil Fuels”.

 The visit’s agenda will primarily focus on Oman’s vision 2040, a flagship program adopted by the Sultanate, and will include a series of high-level discussions, in addition to visits to key infrastructure projects in the Sultanate and meetings with several government, public and private sector officials. The visit aims to bring together infrastructure experts and support practical and project-driven networking, with a focus on utilizing innovative finance to address critical infrastructure needs.

 The AIIB delegation will meet ministers and senior officials from the Ministry of Finance, Ministry of Transport and Communications, Special Economic Zone Authority Duqm (SEZAD), Supreme Council for Planning and Central Bank of Oman, as well as other officials involved with infrastructure planning and projects. 

 The program also includes field visits to SEZAD, where the delegation will visit Duqm port and familiarize themselves with the project and future development plans.

 During the visit AIIB will learn how to further support the Omani Government achieve its priorities for ambitious economic development. 

 Oman was one of the 57 founding members of AIIB, which has now grown to 93 members worldwide. To date, AIIB’s Board of Directors has approved up to USD504million for two projects in Oman–the Oman Broadband Project and the Duqm Port Commercial Terminal and Operational Zone Development Project.