Vienna: The Sultanate of Oman is actively participating in the Annual Forum of the OPEC Fund for International Development (OFID), which is being held in Vienna. The event is centered around the theme ‘A Transition that Empowers Our Tomorrow.’

According to Oman News Agency, the Omani delegation is led by Abdullah Salim Al Harthy, the Undersecretary of the Ministry of Finance. The forum aims to explore strategies for financing future projects that support sustainable development and transition within developing economies. It also focuses on enhancing resilience against climate change and leveraging digital tools to build strong economies.

In addition to the main events, Al Harthy conducted meetings with officials from OFID and representatives from various regional and international financial institutions. These discussions were geared towards fostering cooperation and understanding in financial and developmental matters.

Significantly, two agreements were signed between the Government of Oman and OFID. Al Harthy and Dr. Abdul Hamid Al Khalifa, the OPEC Fund Director General, formalized these agreements. The first agreement outlines the financing for the Khasab-Diba-Lima Road Project, also known as Sultan Faisal bin Turki Road. The second agreement focuses on strengthening the cooperation between Oman and OFID over a span of five years.

A separate agreement was also concluded for financing the first phase of a surface water drainage project in the Al Rawdha Economic Zone in Al Buraimi Governorate. This initiative aims to protect tourism, industrial, and agricultural facilities by establishing a network of open canals, water barriers, and water harvesting ponds. This agreement was signed by Al Harthy and Badr Mohammed Al Saad, Director General and Chairman of the Board of Directors of the Arab Fund for Economic and Social Development.