Qatar offers debt relief to struggling firms to support private sector

Qatar is planning to boost private sector growth by launching new initiatives, including writing off loans for struggling companies impacted by the COVID-19 pandemic, state media reported on Thursday.

The move will provide much-needed relief to struggling businesses and improve their financial health.

Under Sheikh Tamim bin Hamad Al Thani’s directives, the Qatari government aims to strengthen private sector participation in the economy.

The initiatives focus on supporting struggling businesses, diversifying the economy, creating jobs, and attracting investment. Loans under the National Response Guarantee Programme will be forgiven, and firms will have access to short-term funding for working capital. These efforts align with Qatar’s Third National Development Strategy (2024-2030).

Attribution: Reuters

Subediting: Y.Yasser