Posted on March 28, 2017

In its ongoing drive to support small and medium-sized enterprises (SMEs) in the food industry, Qatar Development Bank (QDB) participated in the 5th Qatar International Agricultural Exhibition – Agriteq 2017, which was held under the patronage of Prime Minister and Minister of the Interior, His Excellency Sheikh Abdullah bin Nasser bin Khalifa Al-Thani, from 22 to 25 March, at the Doha Exhibition and Convention Center.

QDB’s participation at Agriteq 2017 is in line with the development agency’s organizational strategy to support and empower SMEs, particularly those operating the sectors identified as high priorities for the nation’s economic diversification objectives, like the agricultural, livestock and fisheries sectors. Development of businesses operating in these sectors is targeted to help the nation achieve self-sustainability by achieving food security and reducing food imports.

Manager Of Agriculture & Fishers, in QDB, Ali Al-Mohannadi said: "At QDB, we are delighted to partake in Qatar International Agricultural Exhibition - Agriteq for the very first time this year. At our designated pavilion, we are dedicating our time and resources to informing entrepreneurs and SMEs involved in the agriculture, livestock and fisheries sectors about our services. It is an integral part of our larger strategy to empower local businesses so that they may achieve our country’s food security objectives in line with Qatar National Vision 2030.”  

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Conforming to the development agency’s directives to provide all the means of support to private sector companies in their respective fields, QDB launched a financing program aimed at Qatari farm owners in cooperation with the Ministry of Municipality and Environment (MME). The program is  launched to finance the purchase of female livestock producers in order to ensure the production of a good breed of livestock, thus meeting the shortage of livestock and ensuring the realization of the national food security vision. In addition, QDB is also considered to be the largest financier for fisheries projects in Qatar.

QDB also supported the sales of the partaking local agricultural farmers with 300 thousand cartons, distributed free of charge to pack their produce. This, in turn, reduces production costs for Qatari farmers, thereby also reducing the final price for buyers in the market. Moreover, it also encourages the preservation of the quality of the local agricultural products through implementation of the latest market methods of collecting, sorting and finally packing the vegetables in suitable high quality containers.

Such financing programs and services related to the state’s food security strategy are in line with Qatar National Vision 2030's objectives to promote and diversify Qatar's economic base and stimulate the private sector as well as  to enhance the Qatari product locally and internationally.