(MENAFN- Qatar News Agency) Qatar Development Bank (QDB) organized a seminar to create awareness around its 'Jahez' initiative, which is offering 32 plots of land for new and existing SMEs in Qatar. The goal of this initiative is stimulate growth and help entrepreneurs with innovative and environmentally friendly business plans.
During the seminar, QDB educated SME owners and entrepreneurs on the merits of 'Jahez' and explained the criteria for selecting projects, as well as answered questions from attendees.
Abdul Aziz Bin Nasser Al Khalifa, CEO of Qatar Development Bank, said: "Throughout this seminar, we provided information to entrepreneurs about the submission process and benefits of leasing these new plots in the industrial area. The plots will vary in size from 2500 sq m to 3000 sq m, and 1500 sqm in built-up areas, leased at a competitive rate of 5 QR / sqm per month. This 'Jahez' initiative reflects QDB's commitment in supporting SME development in Qatar, through innovative services and solutions that help increase efficiency and competitiveness." QDB began accepting proposals in June 2015 and will continue until 1st November 2015. The evaluation applications is divided into three phases; the initial assessment, a second comprehensive vetting process against technical requirements, and finally QDB's shortlist will be met by the officials from the bank for final selection. Winners will be notified in writing.
Abdul Aziz added: "QDB will also be providing comprehensive start-up business solutions for applicants including; consultations, business plans, feasibility studies and applications to lease the land." Qatar Development Bank (QDB ) was established in 1997 as the Qatar Industrial Development Bank , a 100% government-owned developmental organization. Its primary aim was to develop investments within local industries, thereby accelerating growth and economic diversification in Qatar through support for private sector. Between 1997 and 2005, the bank expanded its portfolio, diversifying from its industrial base to include support and guidance for a range of non-industrial sectors identified as key to the development of Qatar. Shortly afterwards in 2006, the bank revisited its mission statement to reflect the successful completion of its new strategic objective and changed its name to Qatar Development Bank.
In 2008, the State of Qatar, QDB 's sole shareholder, increased the bank's capital from 200 million to 10 billion riyals in 2008. Since that time, and reflecting the expansion of its mission and financial assets, QDB has launched a considerable number of strategic initiatives and programs, all designed to directly contribute to the economic growth and development of Qatar.
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