Qatari in Egypt: Buying Foreign Policy | Al Akhbar English

Egypt's President Mohamed Mursi (L) shakes hands with Qatar's Emir Sheikh Hamad bin Khalifa al-Thani during the 16th summit of the Non-Aligned Movement in Tehran, 30 August 2012. (Photo: Reuters - Egyptian Presidency - Handout)

Qatar’s recent announcement that it plans to invest $18 billion in Egypt following President Mohammed Mursi’s controversial statements on Syria may herald a new era in Egyptian-Qatari relations, observers say.

Qatari Prime Minister Hamad bin Jassem announced the proposed investments at a joint press conference with Egyptian Prime Minister Hisham Kandil on September 6. This new wave of investment comes on the heels of a $2 billion Qatari loan to the Egyptian state, the first installment of which was deposited at the Central Bank of Egypt on August 23.

The announcement came just a week after Mursi made headlines at the Non-Aligned Movement summit in Tehran when he announced his full support for the Syrian revolution against what he called an “oppressive regime.”

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