With more than $60bn-worth of construction projects planned as part of Qatar’s World Cup programme, borrowers and lenders will need to begin thinking about financing for the schemes as soon as possible.

Although the majority of the proposed projects are still in the early planning stage, contractors will soon need to ensure that they are able to satisfy all of the required conditions before they can bid and win work.

A major part of this will be the requirement to provide bonds to government clients when bidding for work.

For firms with no work experience in Qatar, proving to local banks that they are credit-worthy will not be easy.

Forging good relationships with local firms, agents and partnerships with local contractors will be a key requirement for international firms hoping to win work in Qatar.

For the local banks and financial institutions, financing all of the bonds and guarantees required will create a number of challenges. While banks in Doha should not have any capacity problems, providing services for the unprecedented demand will require streamlined procedures.

For both contractors and banks, the World Cup will offer a number of opportunities. But to ensure that the massive infrastructure programme runs as smoothly as possible, it is important that borrowers and lenders start planning now.