DUBAI, Jan 11 (Arab News): Oman unveiled late on Wednesday a sustainable finance framework to help the Gulf country reduce its reliance on fossil fuels and attract environmental, social and governance investors.
Under the initiative, Oman plans to issue financial instruments like green, social and sustainability bonds as well as loans and sukuk - bonds that comply with Islamic law - whose proceeds will be used to fund and refinance renewable energy projects.
As power supply and fossil-fuel reserves come under pressure from population growth and rapid industrial development, "Oman appreciates the potential of renewable energy technologies," the country's Finance Ministry said in the report detailing out the framework.
Oman unveils sustainable finance framework in green push
FE Team | Published: January 11, 2024 22:21:49
Oman unveils sustainable finance framework in green push
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