Qatar to give Egypt US$2 billion

After meeting Saturday with President Mohamed Morsi, Emir of Qatar Sheikh Hamad bin Khalifa al-Thani announced that Qatar will deposit US$2 billion dollars in the Central Bank of Egypt to help bolster the country's economy. 

During the visit, the emir also expressed a desire on Qatar's behalf to aid Egypt's politcal development, and invest across all sect.ors. He announced that a Qatari delegation of specialists would visit Egypt in September to study oppurtunities for investment.

A  joint statement issued at the conclusion of the talks said that during the meeting at the Presidential Palace in Heliopolis, Hamad bin Khalifa congratulated Morsi on his election, the formation of a new government, and wished success to Egypt and its people. He also expressed his condolences from the people of Qatar to the victims of the tragic incident in Rafah in which unknown gunmen attacked a checkpoint last week, killing at least 16 Egyptian security forces.  

Hamad bin Khalifa's visit is the first from a Qatari emir since former President Hosni Mubarak's fall from power in Feburary 2011.

Edited translation from Al-Masry Al-Youm

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