Nakilat and Qatar Development Bank plan to support SMEs
Nakilat has signed a memorandum of understanding (MoU) with Qatar Development Bank (QDB) that will see the largest marine company in the country opening the doors for local SMEs to supply contracts for Nakilat and its affiliates in Qatar.
The signing ceremony took place at QDB’s head office in Doha with Nakilat managing director, Abdullah al-Sulaiti signing the deal on behalf of Nakilat and its affiliates while QDB chief executive officer, Abdulaziz Nasser al-Khalifa signed on behalf of QDB.
“In signing this agreement, we acknowledge our position as the lynchpin in the State of Qatar’s marine industry, and we reaffirm our commitment to the growth and development of the sector,” said Al-Sulaiti.
Under the terms of the MoU, Qatar Development Bank will meet demand from Nakilat Damen Shipyards Qatar and Nakilat Keppel Offshore and Marine (N-KOM) for marine export credit insurance, financing, and foreign buyers’ and importers financing services.
QDB and Nakilat also agreed to jointly support local small and medium enterprises (SMEs) by encouraging entrepreneurs to set up new Qatari companies that specialise in marine and shipyard-related industries.
“QDB is a devoted advocate for SMEs in Qatar. Through supporting organisations and national institutions programme to help SMEs, QDB managed to secure success that reflected the experience we have and provided a number of opportunities to SMEs to be part of a vibrant and diversified economy,” said Al-Khalifa.
Nakilat, in addition to its shipyards, is also the transport arm of Qatar’s liquefied natural gas industry and owns and operates the world’s largest fleet of LNG carriers.