NRGP Buy-out Program

Following the outbreak of the Covid19 pandemic in 2020, Qatar kicked off the National Response Guarantee Program (NRGP) to support the private sector by providing companies with the necessary financial support while allocating, through Qatar Development Bank, 100% guarantees to local banks to the tune of 5 billion QR. 

The program is a guarantee scheme by the government of Qatar to help mitigate the pandemic’s repercussions on private firms and to finance their short-term payments such as staff payroll and rental fees

QDB has continuously worked on developing and updating the program since its launch, extending the grace period and increasing the financing ceiling for beneficiaries in accordance with the evolving needs of the private sector and the changing dynamics of the local and global economic landscape. The program has proved to be a success, benefitting over 4,200 companies with total guarantees amounting to 3.6 billion QR.

In line with its ongoing efforts to adapt the program to emerging challenges, ensure the financial sustainability of the private sector and reduce the credit burden on companies, QDB is introducing a new amendment offering beneficiaries the opportunity to transfer NRGP loans from partner banks to QDB (outstanding Principal only). This will allow for flexible financing options (i.e., lower profit rate and affordable repayment terms), which will contribute to facilitating the repayment of existing facilities, improve companies’ cash flows and mitigate an increase in clients’ debt burden as a result of higher lending rates and short repayment terms. 

The new NRGP amendment offers customers the option to transfer their outstanding facilities to QDB, setting new terms and conditions for the flexible repayment of loans as outlined in the main financing transfer agreement concluded between QDB and partner banks and upon the request of clients. The new program allows existing NRGP customers to apply to transfer their facilities to the QDB portfolio, according to the outlined conditions, starting from October 10, 2023 – February 10, 2024. All transferred credit facilities will be considered as new financing schemes with QDB, resulting in a new repayment period of up to 5 years, including a one-year grace period with a 1% p.a. profit rate

For clients who benefited the program through QNB, please ensure the Qatari Partner is an authorized signatory on the QNB account, if not, please visit the concerned branch to update the authorized signatories, then apply on the NRGP Buyout Program to apply for the buyout program simply collect the documents and send to the email address: COVID19-NRGP@qnb.com

Post Dated Cheque 

 

Type of Customer

Dated Cheque 

 

Individual & Corporate

 

Uploading Auto-Generated Documents

(Customers won`t be required to print these documents at the beginning.

They will be signed in QNB premises)

 

Type of Customer

QDB Acknowledgement Letter 

 

Individual & Corporate

Authorization Letter for Signature Verification 

 

Individual & Corporate

QDB Indemnity Form 

 

Individual & Corporate

Copy of Signed BMA 

 

Individual & Corporate

Copy of Personal Guarantee 

 

Corporate only

Acknowledgement of General T&Cs for Facility Agreement 

 

Individual & Corporate

 

Uploading Documents

Type of Customer

Signature Card

Individual & Corporate

Copies of valid owners’ QID.

Individual & Corporate

Article of Association

Corporate only

Copy Valid Commercial Registration 

Corporate only

Copy of valid Commercial Registration for Mother company  (In case company is branch company)

Corporate only

Power of Attorney of owner(s) (if any)

Corporate only

Copy Valid Trading License

Corporate only

Copy Valid Computer Card

Corporate only

Copy Valid industrial licenses (for Industrial Projects only)

Corporate only

Copy Valid industrial Registration  (if issued) (for Industrial Projects only)

Corporate only

Copy Valid Environmental Certificate (for Industrial Projects only)

Corporate only

Copy of Lease Agreement with Industrial Area (for Industrial Projects only) Or Copy of other lease agreement

Corporate only

Valid Copy of civil defense certificate

Corporate only

Copy of Loan Statement 

Individual & Corporate

Copy of Existing KYC form

Individual & Corporate Corporate Corporate

QDB Current Account Form  

Individual & Corporate

Customer Consent form

Individual & Corporate

QNB Application form

Individual & Corporate

Submission of the original documents & Agreements Signing:
Once the application is accepted, the applicants will be notified by email to visit QNB Shoumoukh Branch to complete the following: 
a.    Submit all their original applications / documents (submitted earlier by email).
b.    Submit the original Corporate Payment Cheque, sign it 
c.    Sign all QDB forms / agreements in front of QNB staff, submit in order to initiate the request and finalize QDB approval.

By signing this application, the company and its owners authorizes the bank to deduct any amount from its accounts to pay, at any time, any capitalized interest on the loan (in full or in partial) that is , or will fall due during the buy-out process and until the payment from QDB is received in QNB accounts. The amount of interest that should be paid will be communicated to the customers by email once their application is accepted by QNB. 

For more details on the program, visit www.qdb.qa

National-Response-Guarantee-Program-Required-Documents (qdb.qa)

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