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Qatar says boosting aid to Egypt by extra $2.5 bln

Thomson ReutersEnlarge
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CAIRO, Jan 8 (Reuters) - Qatar said on Tuesday it would lend
Egypt's government an additional $2 billion and grant it an
extra $500 million outright, extending a lifeline as the
government battles to contain a currency crisis.

Political strife has triggered a rush to convert Egyptian
pounds to dollars over the past several weeks, sending the
currency to a record low against the dollar.

"There was an initial package of $2.5 billion, of which $0.5
billion was a grant and $2 billion a deposit," Sheikh Hamad bin
Jassim al-Thani told reporters after meeting Egyptian President
Mohamed Mursi.

"We discussed transferring one of the deposits into an
additional grant so that the grants became $1 billion and the
deposits double to around $4 billion," he said.

http://www.globalpost.com/dispatch/news/thomson-reuters/130108/qatar-says-boosting-aid-egypt-extra-25-bln