Qatar could invest up to 1 billion euros in Greece

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Greece and Qatar have agreed to form a joint investment fund to foster small and medium Greek businesses, with the Qatari PM saying it could match a similar 2 billion euro deal with Italy.

Antonis Samaras, Prime Minister of Greece, and Qatari PM Sheikh Hamad bin Jassim Al Thani signed the agreement yesterday in Doha.

In remarks at yesterday’s press conference, and carried by the official Qatar News Agency, Al Thani said: 

“We want to match the Agreement for establishing the Fund with what we have done with Italy a few months ago where we had agreed with them to create a joint fund with a capital of two billion euros equally between the two countries.”

Although no specific amount was announced for Greece, Al Thani said he is willing to match the 1 billion euro figure Qatar is spending in Italy

“We do not mind that we match that figure with the new fund as long as there is capacity and a project at this level,” he said yesterday.

Greece has been battling an economic crisis at home, and the resulting civil unrest over government spending cuts.

The two countries have been discussing the possibility of Qatari investment for some time, but a previous trip by Samaras last November was postponed due to Greek negotiations with Europe for debt aid.

Thoughts?

Credit: Photo of Athens by Jay Galvin

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