QDB’s financial support to firms exceeds QR6bn

Various services offered by Qatar Development Bank (QDB) has benefitted more than 5,000 Qataris. The bank has provided over QR6bn through its direct lending programme said Abdulaziz bin Nasser Al Khalifa, Chief Executive Officer, QDB, yesterday.
“QDB has provided more than QR6bn as direct lending while our Al Dameen programme- a partial guarantee scheme-has surpassed QR1bn mark. Our guarantees for exports have exceeded QR600m,” said Al Khalifa, speaking at the opening ceremony of Global Entrepreneurship Week (GEW) Qatar. “So far, over 5000 Qatari entrepreneurs have benefitted by various services offered by QDB,” he added.
The second edition of the week-long event is being organised by QDB at the Doha Exhibition and Convention Centre. Local entrepreneurs are displaying a wide range of products, including accessories, clothes, flowers, food, gifts, and perfumes.
“Under our Jahez programme, which is a joint initiative between QDB and the Ministry of Energy and Industry, we are building 46 factories and  are focusing on five main sectors- electronics, plastic, chemical, wood and food. We are focused at creating next generation of industrial Qataris,” he said.
QDB’s Jahez initiative focuses on leasing complete and equipped facilities to Qatari SMEs and entrepreneurs to encourage them to establish innovative and environmentally friendly businesses. The initiative also aims to accelerate the trend towards a diversified and knowledge-based economy to achieve sustainable economic development, which is considered a key element of Qatar National Vision 2030.
 QDB has awarded 86 contracts worth QR42m and another six contracts of 70m are in the final phase of award. This year’s GEW Qatar is the latest in a series of the bank’s initiatives to promote the private sector.
Dr Maher Hakim, Managing Director, Qatar Science and Technology Park (QSTP) also addressed the vent.,