Today, Qatar Development Bank, represented by the Qatar Export Development, Financing and Promotion Agency (Tasdeer), signed a new memorandum of understanding with Qatar National Bank Group (QNB), within the framework of expanding its support for Qatari non-hydrocarbon exports and enhancing its ability to compete in global markets.
Under the agreement, Qatar Development Bank’s solutions in the field of export will be provided to the benefit of the QNB Group, including the “Buyers’ Credit” program, which provides long-term credit facilities to international buyers or external importers, with coverage of up to 90 percent of the contract value, in addition to the “Credit for Buyers” program. The credit line, which aims to provide low-cost financing to international buyers who purchase Qatari goods, whether with financing from Qatar Development Bank or with its guarantee to banks through financing international financial institutions operating in the buyer’s country. International, where financing can reach 100 percent of the basic facility amount.
The bank indicated in a press statement that this cooperation represents a new stage for its tasks and role in the field of securing Qatari exports, as it allows the bank to provide financing solutions to international importers of Qatari products, which makes these solutions more attractive compared to what is available to them in their local or international markets, which is what It is a strong competitive advantage for Qatari exporters, products and services, which would enhance the demand for Qatari products, include them in global projects, build the necessary partnerships with international buyers, and expand regionally and internationally.
In this context, Mr. Khaled Abdullah Al Mana, Vice President for Business Development Affairs at Qatar Development Bank, said: “The signing of the memorandum of understanding with QNB Group comes within the context of a strategic action plan to support the Qatari export sector. Through it, we aim to provide integrated solutions that enable exporters Qataris can benefit from new opportunities in international markets, which will reflect positively on their current and future projects. This cooperation also enhances our ability to provide solutions that suit the financing challenges that Qatari companies may face abroad.”
He added: “These new initiatives fall within the updated business strategy that we recently announced with the launch of the new brand (Qatar Exports), in addition to our launch of the ‘Going Global’ package, which includes a set of solutions for financing exports or promoting and developing them in global markets.”
For his part, Mr. Khaled Ahmed Al-Sada, Senior Executive Vice President of Corporate and Institutional Banking at QNB Group, said: “This agreement reflects the depth of the fruitful partnership with Qatar Development Bank, while it will enhance our role in supporting national exports and local companies, thus contributing to Driving economic growth. QNB Group has innovative financing services and solutions specifically designed to facilitate local and international commercial transactions, which contributes to enhancing the competitiveness of Qatari products and their presence in global markets, in an important step towards achieving Qatar’s national vision. 2030″. This partnership will benefit exporters on the one hand, and Qatari contractors with international projects on the other hand, as the new financial solutions and tools provided will contribute to enhancing the confidence of their business partners and encouraging them to expand their commercial activities. Which in turn will lead to obtaining better and more competitive offers in global markets, and expanding their international customer base.
