The Clap
Qatar to invest $5 billion in Egypt
The Deets
Hala El-Said, minister of planning and Economic development, stated to Bloomberg that Qatar’s sovereign fund will acquire the assets. However, both timing and sectors of these investments have not been announced.
More countries to join
BNP Paribas bank expects that both Kuwait and Saudi Arabia will inject investments into Egypt, with Qatar being the second country to show interest in investing in Egypt after the UAE. Egypt also seeked out IMF support amid rising food and energy prices.
