Omantel establishes Sustainable Finance Framework

Omantel establishes Sustainable Finance Framework

Muscat – Oman Telecommunications Company (Omantel), the leading integrated telecommunications service provider in Oman, has launched its inaugural Sustainable Finance Framework. The Framework affirms Omantel’s commitment to sustainability in line with Oman Vision 2040, which is to enable the Omani society to build a digitally advanced and connected community and drive Oman’s sustainable development.

Under the framework, Omantel will be able to access green, social or sustainability bonds, sukuk, loans and other debt instruments through the sustainable finance market. The framework is aligned with the International Capital Market Association’s (ICMA) Green Bond Principles, Social Bond Principles, and Sustainability Bond Guidelines, as well as the Green Loan Principles and Social Loan Principles, published by the Loan Market Association, the Asia Pacific Loan Market Association and the Loan Syndications & Trading Association's (LMA, APLMA and LSTA).

DNV, one of the world’s leading certification bodies, provided an independent assessment confirming that the framework was in line with these principles.

Projects financed under the framework will support Omantel’s sustainability agenda. Sustainable financing instruments raised under the Framework will finance eligible activities such as energy efficiency improvements in fixed and mobile networks including deployment of 5G technologies and other digital products and services, renewable energy investments, e-waste recycling