Egypt has received $500 million Qatar grant: Official

Ahram Online, Thursday 20 Oct 2011

Deputy finance minister says the promised sum has arrived in Egypt's central bank, praising the 'fraternal ties' between the two countries

Egypt has received the US$500 million in financial aid promised by Qatar, Egypt's deputy minister of finance said on Thursday.

Momtaz Said announced in a statement that the sum, promised months ago. has finally entered the account of the Ministry of Finance held by the Central Bank of Egypt.

Said said there was no truth at all to newspaper reports that the Qatari government had reduced the promised grant or had proposed paying it to Egypt in installments.

The deputy minister praised the financial support provided by Qatar, saying it was a demonstration of the fraternal ties that bind the two countries.

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