Sunday Aug 12, 201204:44 AM GMT
‘Qatar offers $2-billion loan to Egypt’
Egyptian President Mohamed Morsi (L) greeting QatarI Emir Sheik Hamad bin Khalifa Al Thani (R) at the Presidential Palace in Cairo on August 11, 2012 during his official visit to Egypt.
Egyptian President Mohamed Morsi (L) greeting QatarI Emir Sheik Hamad bin Khalifa Al Thani (R) at the Presidential Palace in Cairo on August 11, 2012 during his official visit to Egypt.
Sun Aug 12, 2012 4:43AM
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Qatar has offered Egypt a loan of USD-two-billion to allegedly help boost the North African country's economy.


The announcement came after a meeting between Qatari Emir Sheikh Hamad bin Khalifa Al Thani with Egypt's President Mohamed Morsi in Cairo, Egyptian state news agency MENA reported on Saturday.

“Qatar has decided to deposit two billion dollars in the Central Bank of Egypt,” said the report.

An International Monetary Fund (IMF) delegation is expected in Cairo this month for talks on an aid package for Egypt, worth some USD 3.2 billion.

Egypt considers a comprehensive economic recovery plan a prerequisite for the aid package.

YH/HN
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