Qatar loans Egypt US$10 million

Qatar loans Egypt US$10 million

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Thu, 18/10/2012 - 20:57

Qatari Attorney General Ali al-Marri announced on Thursday a loan of US$10 million to help cushion the loss of billions of dollars that have been syphoned out of Egypt over the past year in the wake of the January 2011 revolution that overthrew former President Hosni Mubarak.

Marri met with Arab League Secretary General Nabil al-Araby Thursday to discuss a mechanism for reclaiming looted money through the league. 
 
Qatar is among the countries that has provided financial assistance to Egypt whose economy was deeply shaken in the wake of the revolution. The Gulf state has already pledged $2 billion to Egypt. It has deposited $500 million, with the remainder to be paid by December.
 
Edited translation from MENA