QDB provides short-term financing at zero profit rate for companies that have completed repayment of NRGP loans
QDB provides short-term financing at zero profit rate for companies that have completed repayment of NRGP loans
QDB provides short-term financing at zero profit rate
for companies that have completed repayment of NRGP loans
Doha, Qatar: Qatar Development Bank announced the launch of its latest initiative to grant short-term funding at zero profit rates to finance the working capital of Qatari companies that previously benefited from the National Response Guarantee Program (NRGP) and have completed the repayment of their loans, provided that they are still operating to date.
The initiative comes within the framework of the directives of His Highness the Emir Sheikh Tamim bin Hamad Al Thani on canceling outstanding loans for companies that benefited from the National Response Guarantees Program which was designed to support the private sector during the Covid-19 pandemic.
Qatar Development Bank will communicate with the concerned companies to enable firms to benefit from the initiative, which represent a continuation of the plan to support the private sector in line with the Third National Development Strategy.
QDB had previously launched its National Response Guarantee Program (NRGP) portfolio to enable companies to transfer outstanding credit facilities from partner banks to the QDB portfolio according to new flexible repayment conditions.
Today, the bank pursues its mission to empower private companies through products and services that propel their growth and business development so that they can effectively contribute to Qatar’s economic prosperity.
QDB launched the NRGP portfolio in 2020 in the wake of the Covid-19 outbreak to support the private sector by providing the necessary financial and economic assistance. The program allocated 100% guarantees for local banks through Qatar Development Bank.
