Qatar to Invest up to 1 Billion Euro in Greece

The Gulf state of Qatar pledged on January 29 to invest up to 1 billion euros ($1.34 billion) in Greek companies, money which could help Greece recover from its debt crisis.

The agreement was reached during a visit by Greek Prime Minister Antonis Samaras, who was accompanied by his Development and Defense ministers and a team of Greek business leaders.

Qatari Prime Minister Sheikh Hamad bin Jassim al-Thani told a news conference that his country was prepared to put 1 billion euros into a fund that would invest in small and medium-sized Greek firms, with Greece providing a similar amount to the fund.

He added that a timetable for the scheme had not been set, but that Qatar would send a delegation to Greece next month to discuss details.

He added, "A serious investor is hard to find today. We are a serious investor and friend to Greece. The most effective way is to make a fair, direct deal."

(Source: Reuters)