(MENAFN- Qatar News Agency) The Logistics Committee of Qatar's Ministry of Economy and Commerce has signed a Memorandum of Understanding (MoU) with Manateq and Qatar National Bank (QNB) to secure necessary finances for the investors in southern of the state with suitable financing options that can go up to 10 years.
The MoU was signed by Hamad bin Ali al-Mannai, Head of the Logistics Committee, Fahad Rashid Al Kaabi, Chief Executive Officer of Manateq, and Yousef Mahmoud Al-Neama, QNB General Manager Group Corporate and Institution Banking.
The MoU comes within the framework of the Logistics Committee's keenness to provide integrated investment solutions for investors towards value-added projects in the logistics areas in southern Qatar and to support the role of financial institutions participating in the sustainable economic development process in accordance with the Qatar National Vision 2030.
Al Kaabi stressed the importance of the national banks' role in economic development projects, pointing out that the signing financing for investors in logistics areas in southern of the state is an important step towards implementation objectives of the project, representing in diversification base of Qatari economy and supporting competitive of the private sector in the development process.
For his part, Al-Neama expressed his pleasure that the QNB is to provide necessary funding for Qatari investors in logistics areas in southern of the state, stressing the bank's commitment to support similar projects that will contribute to back national investment in particular and supporting economic growth and prosperity in the country in general.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.