QDB Extends Deadline for NRGP Facility Transfers

The Qatar Development Bank (QDB) has announced an extension to the application deadline for the transfer of outstanding facilities under the National Guarantee Response Program (NRGP) to QDB’s financing portfolio. Current beneficiaries of the NRGP, which was launched in to mitigate the economic impact of the COVID- pandemic, can now request the transfer of their credit facilities from partner banks to QDB. This move is designed to provide more flexible financing options, lower profit rates, and more affordable repayment terms, thereby enhancing financial sustainability for Qatari businesses.

The new application deadline is set for February , , allowing more time for companies to transition their credit facilities. This initiative aims to ease the repayment burden and improve cash flows for over 4, companies that have benefited from the NRGP, which has already issued guarantees totaling 3.6 billion Qatari Riyals. The transferred facilities will be treated as new financing schemes with a repayment period of up to five years, including a one-year grace period at a profit rate of one percent per annum.

QDB’s CEO, Abdulrahman Hesham Al Sowaidi, emphasized the importance of this extension in supporting the private sector and ensuring its resilience amid changing economic conditions. The program's ongoing updates reflect the bank’s commitment to adapting to the needs of the private sector and maintaining the vitality of Qatar’s economy.

For more details on the application process and terms, beneficiaries are encouraged to contact their respective partner banks or visit the QDB website.