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FINANCIAL NEWS
Qatar loans USD3b to Egypt at 3.5% interest rate
12 May 2013
(MENAFN) Qatar provided Egypt with a USD3 billion three-year loan that was deposited in the Egyptian central bank, reported Reuters, citing a central bank official.
The loan’s interest will be 3.5 percent.
Since last July, the Gulf state gave Egypt a total of USD5 billion.
Following the uprising, the North African country has asked Arab and Muslim states for financial aid to help support its economy.
The government, which is currently negotiating more loans, received USD2 billion from Libya in April.
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