Qatari Finance Minister Ali Al-Kuwari said that Doha remains committed to investing in Egypt and is looking forward to sectors such as telecommunications, manufacturing and tourism.
Al-Kuwari said, in statements reported by Bloomberg, that Qatar’s investments in Egypt are for purely commercial purposes.
Qatar affirmed its commitment to implementing billions of dollars in investments that it pledged to Egypt, but it did not specify any time frame for pumping these investments.
In March 2022, Doha pledged to provide $5 billion to Egypt, as Finance Minister Ali Al-Kuwari stated that they are committed to that, according to Bloomberg TV statements at the Qatar Economic Forum.
Qatar deposited three billion dollars with the Central Bank of Egypt last year to help it deal with the difficulties it is facing, but Al-Kuwari ruled out making another deposit.
The minister explained that the matter is purely investment, and not grants and support, which have become difficult to provide.
Doha hosts the Qatar Economic Forum, which is organized by Bloomberg.
This article was originally published by RT.
