• A memorandum of understanding between Qatar Development Bank and the United Nations Economic and Social Commission for Western Asia (ESCWA)

Doha, Qatar: Qatar Development Bank signed today a memorandum of understanding with the United Nations Economic and Social Commission for Western Asia (ESCWA) in the latest bid to promote and support SMEs in Qatar and the Arab region. In line with the agreement, QDB will host the third Arab SME Summit within the framework of the 10th edition of ‘Rowad’ Qatar Entrepreneurship Conference 2024 which will be held over three days from the 17th to 19th of November at the Doha Exhibition and Convention Center (DECC) under the theme “Navigating Digital Horizons.”

The Arab SME Summit represents a leading interactive platform for entrepreneurs across the Arab region. The summit’s first and second editions attracted over 2,000 participants, bringing together entrepreneurs, investors and representatives of media entities as well as regional and international organizations with a focus on sustainable development. The summit familiarizes participants with leading business models in Arab markets, sheds light on inspiring success stories, and facilitates collaboration and joint action to promote investment opportunities and collaboration among Arab policymakers and experts.

The summit’s upcoming edition is expected to attract more than 1,300 participants from various countries and industries, inspiring entrepreneurs across the region to excel. The summit’s agenda features various events that bring together decision and policymakers to discuss empowering SMEs and fostering the Arab world’s entrepreneurship environment to advance sustainable development. Discussions will focus on the opportunities and challenges presented by the digital era, including digital business transformation, technological innovation, and regional cooperation to strengthen the digital economy.

Mr. Abdulrahman Hesham Al Sowaidi, QDB CEO, said the bank’s new partnership with ESCWA reflects its commitment to pioneering action and collaboration to bolster Qatar’s economy and support the development of the local entrepreneurship ecosystem.

“We are proud that Doha is hosting the third Arab SME Summit after Amman and Marrakesh hosted the previous two editions. We are pleased that the event will take place within the framework of the 10th edition of ‘Rowad’ Qatar Entrepreneurship Conference 2024, which makes this year’s edition the largest of its kind to date. We believe such events are key to support Arab economies and empower leading entrepreneurs across the region. At Qatar Development Bank, we remain committed to spearheading leading initiatives to support SMEs and foster their contribution to sustainable economic growth.”

Rola Dashti, ESCWA’s Executive Secretary, said the commission is pleased to partner with Qatar Development Bank, a leading Arab entity when it comes to supporting women entrepreneurs and SMEs. “We are confident that this partnership will open new horizons to promote entrepreneurship across the region. We look forward to working together to promote innovation, create jobs, and stimulate inclusive economic growth.”

“The Arab SME Summit is distinguished by the participation of an elite group of innovators, entrepreneurs, SMEs, policy makers and leaders from various industries and Arab countries. Holding the summit within the framework of the Rowad Conference is considered an exceptional opportunity to organize an unprecedented edition in terms of participants, partners and investors in the Arab entrepreneurship ecosystem,” she added.

QDB’s collaboration with ESCWA aims to support SMEs through knowledge exchange and capacity building, with a focus on innovation and sustainability.

This year marks a new milestone in the Rowad Conference journey, which kicked off locally before expanding regionally to Gulf Cooperation Council countries. Last year’s event hosted the third edition of the GCC Entrepreneurship Forum and the Rowad GCC Hackathon, the first of its kind in the region, along with the fourth edition of the Rowad Awards that celebrate Qatari firms with outstanding performance.

The ‘Rowad’ Qatar Entrepreneurship Conference aims to celebrate the achievements of entrepreneurs in Qatar, empower startups and SMEs and bolster their growth opportunities. As is the case every year, the conference will bring together leading players from Qatar’s entrepreneurship ecosystem along with their regional peers for the opportunity to exchange knowledge and share valuable insights on investment prospects across the Arab world.

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About Qatar Development Bank:

Qatar Development Bank (QDB), previously known as Qatar Industrial Development Bank, was established in Qatar in 1997 by Emiri Decree No. 14 as a developmental organization with the primary objective of fueling industrial growth and driving the private sector’s economic diversification. Over two decades of transformation, QDB has reinvented itself to become the main supporting arm for Qatar’s private sector and a powerful catalyst for socio-economic development through three access-based pillars to SME and private-enterprise support: Access to Finance, Access to Markets, and Access to Capability.

The Bank’s whole-journey support system covers various financing schemes and consultation services that include marketing, legal advice, booking, mentoring and development, grants and accreditation, and capacity-building platforms. This has allowed QDB to become the SME’s growth partner from ideation to fruition, meeting their aspirations at every stage in order to compete at the national and global levels, while improving the economic development cycle and bringing the country closer to realizing its national vision for 2030.

Today, the Bank and its subsidiaries are building on Qatar’s rich legacy of socio-economic achievements by taking a brave leap into the future and focusing on the digital transformation of the country’s SME and business ecosystems to usher entrepreneurs and SMEs into the new economy, embrace emerging opportunities, and steadily transform QDB into a digital bank of the future and a lighthouse that leads the way for financial and developmental institutions across the region and beyond. For more information, please visit QDB.qa