Speaking at the launch of QDB' s new corporate identity yesterday, Minister of Finance and Acting Minister of Economy and Commerce H E Yousef Hussain Kamal, said the government decision to raise the capital to QR5bn would allow QDB to play a role in the country's comprehensive economic development.

"The bank will finance seven sectors. These will be industry, agriculture, health, education, tourism, animal resources and fisheries. Raising the capital will allow the private sector to be more involved in economic activities," said Kamal.

The Minister said the country was keen on capital-intensive projects as opposed to labour-intensive ones. "We also want new industries to rely on inputs from the country, especially by making use of our energy resources." The bank will play a role in providing loans and incentives, he said.

QDB Chairman Sheikh Abdullah bin Saud Al Thani said the new corporate identity was a qualitative development. "Till date, we have financed 161 projects at a cost of QR292m," he stated. Also present at yesterday's ceremony was QDB General Manager Sheikh Hamad bin Nasser Al Thani.