QDB provides funding for building greenhouses in Qatar through its new Greenhouse programme

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DohaAs part of its ongoing efforts to spread the culture of agriculture among Qatari farmers and enhance food security in the region through the fisheries, livestock and other agricultural sectors, Qatar Development Bank (QDB) participated in the 6th Qatar International Agricultural Exhibition, AgriteQ 2018. As a development sponsor at AgriteQ 2018, QDB’s participation has been in line with its development strategy to achieve economic sustainability through the support of national products.

Senior QDB officials at AgriteQ 2018.

QDB focuses on accelerating the development and diversification of the economy of Qatar and contributes in investment and financing of several projects through various financing programme, including “Fisheries Finance Programme” that specialises in financing the purchase of vessel engine, fishing equipment, communication and protection devices, refrigeration unit to transport fish locally, in addition to “Agricultural Financing Programme”, which includes the purchase of greenhouses, irrigation tools and equipment, as well as the required water desalination unit for agriculture and any new techniques to improve agricultural production. The Bank also provides “Livestock Finance Program” designed to help finance the purchase of female livestock.  During its participation at AgriteQ 2018, Qatar Development Bank (QDB) launched its new “Greenhouse Programme”, which aims at financing construction of greenhouses in different areas suitable for Qatari houses to ensure self-sufficiency of locally produced food and reduce dependence on imports as well as providing all planting and technical support with a maximum funding amount of QR 70,000, in addition to providing a one-day workshop that will offer farmers adequate knowledge in agriculture and a better understanding on agricultural track systems that will play an important role in facilitating the follow up procedure on agricultural production.

In accordance with the terms of the financing project for the installation and setup of greenhouses, QDB will set a profit ratio of 1% with a maximum financing period of up to 4 years and a grace period of up to 6 months. The variety of products which will be cultivated will include tomatoes, mint, cucumber, beans, watercress, eggplant, lettuce, coriander, green onions, chili, cold pepper, parsley

Abdulaziz bin Nasser Al-Khalifa, CEO of QDB, said:  “QDB is delighted to once again participate in Qatar International Agricultural Exhibition (AgriteQ), at its designated pavilion where entrepreneurs, SMEs and all stakeholders involved in the agriculture sector are informed about our new financing project and products for setting up greenhouses and supporting farming in Qatar, which will ensure self-sufficiency of locally produced food. QDB’s adequate local support aims at empowering local businesses so that they achieve Qatar’s food security objectives in line with Qatar National Vision 2030, increase vegetable production capacity of their farms significantly and harvest double the quantity in the upcoming season.”

Qatar Development Bank (QDB) makes it clear that all interested applicants applying for construction of greenhouses financing programmw should register and apply on bank’s website, in order for each request is replied to individually before meeting with the customer relations manager and start taking necessary procedures on approvals. Before the installation of the greenhouse, all customers are required to attend the mandatory workshop which offers them with essential knowledge before installing the greenhouse.

 

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