QDB launches Green Financing for eco-friendly projects – The Peninsula

QDB launches Green Financing for eco-friendly projects – The Peninsula

Doha: Qatar Development Bank (QDB) launched the Clean Energy and Eco-Friendly Financing program, also known as Green Financing for Qatar-based Small and Medium Enterprises (SMEs) operating in QDB-mandated sectors.

SMEs that are seeking to introduce or use clean and sustainable projects or infrastructures (green projects) to support their business operations in the reduction of their energy cost, environmental degradation, and carbon footprint.

QDB Acting CEO Abdulrahman Hesham Al Sowaidi said that supporting sustainability through this and other programs is part of the bank's strategy to support environmentally friendly projects, in keeping with the necessities of this period nationally and globally.

Al Sowaidi indicated that the bank is moving in accordance with its institutional responsibility to support entrepreneurs in line with the country's national vision for building a sustainable knowledge-based economy.

QDB Acting CEO stressed that this financing program is the first of its kind, and it will support SMEs operating in any of the various QDB-mandated sectors, encouraging them to benefit from the bank's programs, indicating that the Green Financing program will first finance 85 percent of a project's cost for enterprises that will add technological solutions or environmentally friendly operations to their business or their business model. QDB offers a long-term financing repayment