COVID-19 National Response Guarantee Program
Description and Components
- Public emergencies (e.g., outbreak of covid-19) are having a severe impact on continuity of SMEs and their business model.
- In such circumstances, private businesses need a fast access to financing to meet their immediate payroll and rental fee payment requirements.
- Given the situation, the Government of Qatar decided to structure a specialized guarantee program to facilitate financing of emergency salary and rental fee requirements of affected businesses through Doha Bank.
- Qatar-based 100% privately owned companies affected by the outbreak of Covid-19, except those operating in pharmacies, supermarkets, and real estate industries.
- Companies with valid CR issued by the Ministry of Commerce and Industry can apply through the banks where they maintain their accounts to disburse their payroll through WPS or similar platform.
- To be eligible for the program, Qatari Partner should hold a minimum of 10% share in the beneficiary company’s capital.
Guarantee Program Structure
- Financing will be guaranteed by the Government of the State of Qatar through the Ministry of Finance.
- Guarantee will cover 100% of financing amount.
- Guarantee will be issued at no cost to the banks and beneficiary companies.
- At the time of application, guarantee can only be extended to a Qatari Partner in favor of a beneficiary company where he/she maintains a minimum of 10% share.
Debt / Equity Contribution
- Up to 100% debt financing.
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