Qatar Development Bank allocates QAR 1.5b to SMEs in 2024

12/01/25

Qatar Development Bank (QDB) successfully allocated QAR 1.5 billion (USD 412 million) in direct financing to small and medium-sized enterprises (SMEs) in 2024.

This reflects a remarkable 33% increase compared to 2023. Furthermore, it elevates the bank’s total outstanding direct financing to QAR 6.4 billion (USD 1.76 billion) further solidifying its role in supporting Qatar’s private sector.

Notably, Qatar Development Banks indirect financing facilities currently total approximately QAR 730 million (USD 200 million), benefiting over 1,400 SMEs across various sectors. Consequently, the bank's strategic focus on fostering entrepreneurship and innovation is underscored by its commitment to providing vital funding solutions to local businesses.

Moreover, QDB’s investment portfolio in Qatari startups surpassed QAR 300 million (USD 82.42 million) in 2024, marking 23.5% year-on-year growth. Additionally, over 450 startups have accessed QDB's specialized incubation programmes, which include tailored support through business incubators and accelerators. As a result, such initiatives ensure startups are equipped with the resources, guidance, and expertise necessary to thrive in competitive markets.

QDB also offered advisory services to over 360 entrepreneurs and SME owners, helping them navigate the challenges of business management and growth. Over 6,000 participants benefited from workshops, training sessions and capacity-building programmes.

Further comprehensive support extended to export financing, totaling QAR 2.9 billion (USD 800 million), alongside the facilitation of more than 180 specialized workshops. Over 630 exporters were trained, and QDB hosted 18 events, including international exhibitions and bilateral meetings, to boost Qatari exports. These efforts contributed to a 55% growth in non-hydrocarbon private sector exports, reaching 108 global markets.

Additionally, QDB facilitated partnerships and joint workshops to localize procurement opportunities, supporting more than 740 local companies. This resulted in QAR 1.12 billion (USD 310 million) in contracts for SMEs, a 135% increase compared to 2023.

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