QDB's ‘multi-faceted’ strategy helps SMEs amid Covid-19 crisis: CEO
October 29 2020 09:38 PM
The QDB has adopted a multi-faceted strategy to help small and medium enterprises turn challenges in
The QDB has adopted a multi-faceted strategy to help small and medium enterprises turn challenges into a leverage point, its CEO Abdulaziz bin Nasser al-Khalifa said outlining measures QDB has taken to help SMEs during the pandemic

The Qatar Development Bank has adopted a multi-faceted strategy to help small and medium enterprises turn challenges into a leverage point, its CEO Abdulaziz bin Nasser al-Khalifa said outlining measures QDB has taken to help SMEs during the pandemic.
In "CEO Outlook–Qatar 2020" prepared by KPMG, al-Khalifa said, “To build on the State’s comprehensive response measures to support the private sector amidst the crisis, QBD adopted a multi-faceted strategy to help SMEs turn challenges into a leverage point.
While the health and wellbeing of citizens and residents has been at the heart of Qatar’s response to Covid-19, the country has also taken measures to secure the economy through stimulus packages from the Qatar Central Bank that provided much needed relief to businesses.
For small and medium enterprises (SMEs), which are a critical part of Qatar’s economy, additional support has also been offered through the QDB.
Al-Khalifa said, “We delayed SMEs’ loan repayment for six months and granted special exemptions to certain segments of businesses. We also launched the National Guarantee Programme, which has helped more than 3,500 companies finance their employee wage bills and pay rental fees. This is in addition to developing a full suite of virtual consultation and training services that deal with supply chain disruptions and many other challenges facing SMEs during the pandemic.
“Finally, we launched QDB’s ‘Revive’ programme, which we designed to help SMEs thrive in the new economy.
“As a result, we have successfully minimised the impact of disruptions on SMEs in Qatar and we continue to empower them with the tools and resources they need to continue playing a significant role in achieving Qatar’s economic diversification agenda and its national vision for the future.”
In its latest Qatar CEO Outlook report, KPMG said Qatar-based CEOs remain optimistic about the growth prospects for the country, although confidence in the global economy has fallen.
According to KPMG, 60% of CEOs in Qatar expressed confidence in the growth prospects of their country, compared to 45% of global CEOs who expressed confidence in their county’s growth prospects.
The Qatar CEO Outlook report by KPMG is an effort to bring some clarity to the “new normal”. KPMG interviewed thousands of CEOs from many of the world’s largest companies, first in January and then again in July and August, to get their perspectives and to understand how their priorities have changed as a result of the Covid-19 pandemic.
The firm surveyed a range of top business leaders and found that CEOs in Qatar remain optimistic regarding Qatar’s growth prospects with 60% expressing confidence in the growth prospects of their country, compared to 45% of global CEOs who expressed confidence in their country’s growth prospects.



There are no comments.

LEAVE A COMMENT Your email address will not be published. Required fields are marked*
MORE NEWS

HAPPENING IN DOHAMore