Qatar allocates QR3 bn as loan guarantees to support firms to pay salaries and rents

QNA
Doha
Upon the directives the Amir HH Sheikh Tamim bin Hamad al Thani, the Prime Minister and Minister of Interior Sheikh Khalid bin Khalifa bin Abdulaziz al Thani has allocated QR3 billion as guarantees to local banks.
The Qatar Central Bank (QCB) said in a statement that the QR3 billion is part of the support package for the private sector to deal with the coronavirus impact on the economy. It will be used as loan guarantees to provide soft loans to companies in need of liquidity to pay salaries and rents. The guarantees will be issued by the Qatar Development Bank (QDB) to banks operating in Qatar.
Qatar Central Bank (QCB) in cooperation with the Qatar Development Bank (QDB), will set standards and mechanisms for implementation of the package.

Go to QDB website: https://www.qdb.qa/en/Pages/national-guarantee-program.aspx

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