Report: Qatar plans $10 bln in Egypt projects
Qatar intends to invest $10 billion into Egypt’s economy, in part to bolster the post-revolutionary government there, according to statements attributed to the Qatari ambassador to Cairo.
Egypt’s tourism industry was hit hard by the uprising earlier in the year.
Egypt has been asking donors and the International Monetary Fund to help to bridge an estimated $10-12 billion balance of payments gap for the fiscal year that begins on July 1, economists say.
Al-Ahram quoted Qatar’s ambassador to Cairo as saying a Qatari delegation would hold talks in Cairo on Saturday to follow up on projects broached during a visit by Qatar’s emir, Sheikh Hamad bin Khalifa al-Thani, earlier this month.
“I believe these projects, when implemented, will surpass $10 billion, and they will be productive products in Egypt,” al-Ahram quoted Ambassador Saleh Al-Buainein as saying.