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Qatar central bank offers USD 825 mln for local banks

DOHA, March 29 (KUNA) -- Qatar's Central Bank said Sunday it was providing three billion riyals (USD 825 million) for local banks to offer interest-free loans for companies worst hit by coronavirus.
Prime Minister Sheikh Khaled Al-Thani instructed the central bank to release the appropriation upon orders of Amir Sheikh Tamim Al-Thani to support financial and economic sector, the bank said in a statement.
This is part of the government's 75 billion riyals (USD 2.06 billion) financial incentives for the private sector, it said.
The interest-free loans will be extended to companies suffering the brunt of coronavirus, and in need of paying salaries and rents. (end) nnd.bs