Qatar Lifts Egypt Assistance by $2.5 Billion, Hegazi Says
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Qatar will increase its assistance to Egypt by buying $2.5 billion of government bonds to help shore up its economy after the 2011 revolution, Egyptian Finance Minister El-Morsi Hegazi said.
Egypt’s Cabinet will discuss the debt offering and the company that will handle it next week, Hegazi said in an interview in Cairo yesterday. The gas-rich Persian Gulf emirate has already provided $5 billion of grants and central bank deposits to Egypt, and will continue to stand alongside the nation, Qatari Prime Minister Sheikh Hamad bin Jassim al-Thani told reporters Jan. 15 in the capital Doha.