Qatar pledges investment in Greece

Greece signed a memorandum agreement reaching 5 billion euros with Qatar yesterday, paving the way for investments in the Mediterranean country. The memorandum was signed in New York late yesterday between Prime Minister George Papandreou and Sheikh Hamad bin Khalifa Al Thani, the emir of the state of Qatar. In a nonbinding agreement, the memorandum says that the Qatar Investment Authority may invest in Greece’s tourism, real estate, transport, infrastructure and energy sectors. A six-member commitee will be set up to oversee any investment plans but there is no mention of any specific project going ahead. The committee, consisting of top officials from each country, is expected to meet in the next two months to decide on its investment plan. The development of the old international airport at Elliniko is believed to be among the projects of interest to Qatari investors, according to sources.

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