The Authority has distributed various projects under different financing programs, such as the In-Country Value Programme, Industrial Projects Financing Programme, Service Projects, Working Capital Financing Programme, Incubated Institutions and Business Accelerators Financing Programme, Handicraft Products Financing Programme, Home and Production Works, Street Vendor Works, mobile commercial activities, contract financing program, and financing for small and medium enterprises awarded contracts by companies affiliated with Oman Investment Authority.

Out of the 244 projects, 161 were industrial, commercial, and service projects, and 44 were contract projects.

The contract financing program specializes in financing contracts (tenders or purchases) based on the work award letter from the awarding entity.

Meanwhile, 29 projects were working capital financing projects, which cover the daily needs of an organization’s operational expenses.

This includes costs such as purchasing raw materials, semi-manufactured goods, merchandise, warehouses, spare parts, salaries and wages, transportation expenses, and other costs necessary to maintain the continuity of the production process from purchasing raw materials to selling the product.

Most of the funded projects were in Muscat Governorate, with 108 projects worth more than OMR 10 million.

This was followed by North Al Batinah Governorate, which financed 31 projects worth more than OMR 3 million, and South Al Batinah Governorate, which financed 19 projects with a total value exceeding OMR 1 million.

The Dhofar Governorate had 19 funded SME projects, South Al Sharqiyah Governorate had 15, Al Dhahirah Governorate had 18, Al Dakhiliyah Governorate had 13, North Al Sharqiyah, Al Wusta, and Buraimi Governorates had six projects each, and Musandam Governorate had three projects.

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Seeking to empower Start-ups in Jordan and to protect young businesses in Jordan, ISSF invested $5 million in MSA Capital’s venture fund.

ISSF said “[This investment] unlocks new opportunities for Jordanian start-ups, providing them with the financing needed to scale and thrive in the competitive global market.”

Mohamed al Muhtaseb, CEO of ISSF said that “MSA Novo is an emerging markets-focused venture fund under MSA Capital, a global multi-stage investment firm. The investment firm has shown “strong commitment” to support start-ups in Jordan.”

He added that “Through this strategic investment, our objective is not just to infuse vital equity capital but also to effectively open doors for Jordanian start-ups, providing them with accelerated access to global markets through the expertise of a key international player in the venture space,”

Jordan’s Innovative Startups and SMEs Fund was founded in 2017, aiming to support Jordanian businesses it was established following the recommendation of the Jordanian Economic Policy Council,

The Fund ISSF received $50 million funding from the World Bank and it also received $48 million from the Central Bank of Jordan.

According to Middle East Investment Initiative, Jordan currently has over 100,000 SMEs which is (97%) of all companies, making up more than 50% of the country’s GDP and employing 60% of the Jordanian workforce.

When the covid pandemic hit, the European Investment Bank is partnering with the Housing Bank to support the Jordanian economy with a line of credit amount to $107 million to local private sector business that have been impacted.

Jordan got recognized by the World Bank as one of the economies with the most notable improvements, currently being ranked as 75 out of 185 opposed to being ranked at 167 of 185 in 2013.

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MSA Capital, a Chinese VC firm that is backed by Saudi Arabia’s PIF (public investment fund) offers opportunities for technology start-ups in the Middle East by pledging $ 1 billion in financial investment.

The company, which was founded in 2014, manages over $ 2 billion and invests in companies in the biotech, enterprise-facing core technology and consumer sectors.

MSA Capital has had multiple high-end deals with Venture Capital round sizes exceeding the tens of millions, including but not limited to:

• Tabby, a fintech company based in Dubai that offers flexible payment options, with a round size of $50M.
• Cullgen, a biotechnology and pharmaceutical company based in Ohio, United States with a round size of $50M.
• Sary, a B2B e-commerce platform connecting small businesses with manufacturers and lenders, based in Saudi Arabia it had a round size of $30M.

MSA Capital’s Managing Partner, Ben Harburg, has revealed that the company plans to launch a new fund in the year 2024. He further added that MSA Capital is currently in discussions with potential investors in the region to move forward with the plan to release the funds.

Saudi Arabia’s sovereign wealth fund has been investing in several start-ups as part of its efforts to achieve the goals of Vision 2030. Start-ups in the Kingdom secured $1.3 billion in Venture Capital funding in 2023, dominating the fundraising space.

Vision2030 is Saudi Arabia’s plan to diversify the Kingdom’s economy away from petroleum and the oil sector and open other areas of income to prepare for a future where businesses can have a supportive environment of all sizes.

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