DOHA, Qatar (AP) — Qatar’s prime minister says the Gulf nation will give Egypt another $3 billion to bolster its ailing economy and help rebuild key industries.
The pledge on Wednesday adds to Qatar’s previous promises to invest up to $18 billion in Egypt over the next five years. It also highlights a critical economic lifeline for Egypt’s governing Muslim Brotherhood, which has close ties with Qatar’s rulers.
Qatar’s prime minister, Hamad bin Jassim Al Thani, also said that the Gulf state will increase natural gas shipments to Egypt in the summer to help its overburdened energy networks.
The announcements followed talks with visiting Egyptian Prime Minister Hesham Qandil.
Egypt’s economy has tumbled since the fall of Hosni Mubarak two years ago. Unrest has scared away foreign investors and crippled the vital tourism industry.
Get The Times of Israel's Daily Edition
by email and never miss our top stories
By signing up, you agree to the
terms
Copyright 2013 The Associated Press.
Help us report truthfully on social media
As a multimedia journalist, my job is to take the quality, fact-based journalism produced by The Times of Israel newsroom and make it accessible across every platform — from Instagram posts to podcasts to short-form videos.
This is how many, especially young people, consume news these days. But misinformation is rampant on social media. Our team at ToI produces accurate, responsible short-form reporting on Israel and the Jewish world.
If you believe in the importance of factual social media journalism, please consider joining our reader support group, The Times of Israel Community. Your financial support is essential to sustain responsible multimedia reporting.
— Gabriella Jacobs, multimedia journalist
Support our work
Support our work
Already a member? Sign in to stop seeing this
You're a dedicated reader
We’re really pleased that you’ve read X Times of Israel articles in the past month.
That’s why we started the Times of Israel - to provide discerning readers like you with must-read coverage of Israel and the Jewish world.
So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Thank you,
David Horovitz, Founding Editor of The Times of Israel
Join Our Community
Join Our Community
Already a member? Sign in to stop seeing this
Add ToI as a Preferred Source on Google
