Bank schemes to boost SME sector

By Pratap John

HE Nasser bin Abdullah al-Hemeidi with Mansoor Ibrahim al-Mahmoud and other officials at the housing project being implemented by Qatar Development Bank at Duhail for the Ministry of Social Affairs

Qatar Development Bank (QDB) has chalked out schemes to boost private sector activities, particularly in the small and medium segments, said its chief executive officer Mansoor Ibrahim al-Mahmoud. 
With Qatar having won the bid to host FIFA 2022 World Cup, the bank would equip itself to play its role in meeting the country’s needs, al-Mahmoud said.
Earlier, Qatar Development Bank had said it expected to provide lending to more than a third of Qatari small and medium-sized enterprises by 2015 as significant growth is taking place in the SME sector over the next four years. QDB’s objective is to play an active role in Qatar’s economic and industrial development by helping diversify its industrial base through the promotion and financing of small and medium enterprises.
On Thursday, al-Mahmoud accompanied HE the Minister of Social Affairs Nasser bin Abdullah al-Hemaidi during a visit to a housing project being implemented by QDB for the Ministry of Social Affairs  at Duhail. The first stage of the housing project has already been completed .In total, 65 pre-fabricated villas will be constructed in three phases for Qatari elders, orphans and people with special needs.