Doha, Qatar – Qatar Development Bank (QDB) has launched a new initiative aimed at incentivizing Qatari companies that have fully repaid their loans under the National Response Guarantee Program (NRGP). In a statement, QDB announced that the initiative offers zero-interest short-term loans to qualifying companies, further enhancing support for the private sector.
This initiative follows the directives of His Highness the Amir Sheikh Tamim bin Hamad Al-Thani, who granted loan forgiveness to companies that benefited from the NRGP. The NRGP was initially introduced in 2020 to assist the private sector during the economic challenges posed by the COVID-19 pandemic, providing 100 percent loan guarantees through QDB to local banks.
QDB stated that it will directly communicate with eligible companies to help them take advantage of this opportunity. The initiative is seen as an extension of the private sector support plan, which aligns with Qatar’s third national development strategy.
The bank’s commitment to supporting the growth of the private sector is evident through the flexible financing solutions it provides. QDB previously introduced a financing portfolio under the NRGP to assist companies in restructuring their credit facilities and offering more favorable repayment terms.
QDB continues to provide essential products and services to help private companies expand and contribute to the overall prosperity of the national economy. The new zero-interest loan initiative reinforces QDB’s mission to bolster business development and economic growth in Qatar, creating a robust foundation for companies to thrive in the post-pandemic recovery.
