Qatar development bank launches healthcare financing product

Qatar Development Bank (QDB) Sunday announced the launch of a new financing product that will spur Qatar's healthcare sector. QDB's new product will provide comprehensive financing solutions to a wide range of healthcare projects in Qatar, such as the construction of diagnostics clinics, specialized medical centres and therapeutic centres. The bank will also provide finance for all types of specialized healthcare equipment, furniture and fixture, computers, vehicles and ambulances that are used for healthcare purposes, QDB said. QDB CEO Abdul Aziz bin Nasser Al Khalifa said, "Qatar is committed to the development of its healthcare sector and establishing an international centre of excellence for healthcare services, as well as providing state-of-the-art medical services to all members of the local society." "We are proud to support this vision by offering a financing product that contributes to the development and expansion of specialized medical establishments in Qatar. "Developing the role of private sector in healthcare is a strategic move by the government of Qatar, and the provision of health insurance is the best example of the country's successful approach, as it would have a positive impact on enhancing the private sector's role in the development of the healthcare sector, as well as open new horizons for the industry." QDB offers 70% of financing to healthcare construction projects, and 80% of financing to all types of specialized healthcare equipment. Applicants can avail of flexible loan repayment period, which can go up to 12 years with three-years payment holiday for new projects, and 10 years with two-year payment holiday for existing projects, QDB said.