Qatar sovereign fund to invest $10 billion in U.S. infrastructure projects

It is yet to be clarified whether this sum is in addition to Qatar’s $35 billion earlier commitment.

Qatar’s sovereign wealth fund has disclosed that it will be investing upto $10 billion in infrastructure projects in the United States.

This is likely to act as a helping hand and boost Donald Trump’s economic plan for the U.S.

The news was delivered by Sheikh Abdullah bin Mohamed bin Saud al-Thani, the CEO of Qatar Investment Authority (QIA), to U.S. officials which included Charles Rivkin, U.S. assistant secretary of state for economic and business affairs.

However, Qatar has not provided a timeframe for the investment. The QIA is one of the world’s largest sovereign funds.

A spokesman for the U.S. embassy in Qatar declined comment.

Earlier, QIA had stated it intends on investing $35 billion in unspecified projects in the U.S. between 2016 and 2021. It isn’t clear whether the $10 billion is part and parcel of the $35 billion.

On the election trail, Trump had outlined plans to significantly boost infrastructure investment. During one presidential debates with Hillary Clinton, Trump had contrasted Qatar’s gleaming airport with U.S. facilities located at LaGuardia and Newark.

Incidentally, Qatar is host to the largest air base in the Middle East.

This investment by Qatar could cement ties with the incoming U.S. administration. It comes at a time when Arab countries fear that retreating U.S. power could benefit regional foe, Iran.

Already Trump has signalled that he may halt U.S. support to Syrian rebels. Saudi Arabia and Qatar have been the chief backers of the rebels in the region.

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