Qatar PM promises $3 bln more aid to Egypt

DOHA, April 10 (Reuters) - The Qatari government has agreed

to provide an additional $3 billion of aid to Egypt, Qatar's

Prime Minister Sheikh Hamad bin Jassim al-Thani said on


"We reached an agreement to add more bonds from the Qatari

government in the amount of $3 billion. During the coming days,

we will discuss the details of issuing those bonds," Sheikh

Hamad told a joint news conference with Egyptian Prime Minister

Hisham Kandil.

He did not clarify the way in which the aid would be

structured. Kandil told the news conference that the aid would

be in the form of "bond deposits", also without elaborating.

Sheikh Hamad said Qatar would supply natural gas to Egypt in

the summer when it was needed. "We also discussed projects that

we agreed on four or five years ago, especially in iron and

steel," he said.

Qatar did not ask Egypt for anything in return for its

latest aid, Sheikh Hamad added.

The gas-rich Gulf state has already provided Cairo with $5

billion in loans and grants since Egypt's Islamist President

Mohamed Mursi was elected last year.

But there have been signs of disagreement in recent months;

for example, Egypt's financial regulator is holding up a

proposed joint venture between QInvest, majority owned by Qatar

Islamic Bank, and Egypt's EFG Hermes, a

leading Middle East investment bank.

Kandil told the news conference that Egypt's relations with

Qatar were fine and that media reports of tensions were wrong.

The two leaders did not mention the QInvest deal during their


The visit by Kandil to Doha follows three days of

preparatory meetings by Egyptian central bank governor Hisham

Ramez in Qatar.