Qatar Development Bank (QDB) has announced the extension of the deadline for the transfer of outstanding credit facilities to its National Response Guarantee Programme (NRGP) portfolio until September 30, 2024.
The move is aimed at ensuring that all customers have the opportunity to apply for the programme, which was designed to refinance outstanding credit facilities granted to customers by partner banks through the NRGP.
The bank has received 1,350 transfer requests since the programme’s launch in October 2023. The programme allows existing NRGP beneficiaries to apply to transfer their outstanding credit facilities from partner banks to the QDB portfolio according to newly outlined, streamlined conditions. All transferred facilities will be granted a new repayment period of up to five years, including a one-year grace period.
The NRGP was launched under exceptional circumstances in 2020 to provide the necessary support to enable entrepreneurs in Qatar to overcome emerging challenges. Today, QDB pursues this mission and works on new initiatives to facilitate the growth and development of businesses so that they can effectively contribute to a prosperous Qatari economy.
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 programme allocated 100% guarantees for local banks through QDB, under the guidance of the Qatari government, to enable private companies to meet short-term dues, including salaries and rent. Up to 4,200 companies benefited from the programme, with the total value of guarantees issued reaching QR3.6bn.
To learn more on how to apply for the programme to transfer outstanding credit facilities, please contact the National Guarantees Programme hotline 4430-0000 followed by extension number (1) or visit https://www.qdb.qa
Qatar Development Bank has received 1,350 transfer requests since the programme’s launch in October 2023
