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Egypt receives $3 bln Qatari deposit at 3.5 pct - official
May 12, 2013 / 9:02 AM / 5 years ago

Egypt receives $3 bln Qatari deposit at 3.5 pct - official

CAIRO, May 12 (Reuters) - Egypt received a $3 billion deposit from Qatar on Thursday at 3.5 percent interest, a central bank official said on Sunday.

The funds will remain with the central bank until Egypt’s Ministry of Finance issues bonds to Qatar and the funds are converted, said the official, who asked not to be named.

Qatar had earlier asked for 5 percent interest on the funds, an Egyptian official involved in the talks said in late April. Qatar had pledged the funds in mid-April.

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