The Qatar Investment Authority might invest $10 billion in infrastructure projects in the US.
Sheikh Abdullah bin Mohamed bin Saud al-Thani, the head of the Qatar Investment Authority, has told US officials that the country is willing to invest $10 billion in infrastructure projects within the United States.
If delivered, the money will help boost President-elect Donald Trump’s economic plans. During the presidential debate prior to the elections, Trump said that he would focus on US infrastructure, bridges, roads, airports and hospitals, etc. He even compared some of the nicer Middle Eastern airports, like Doha’s and Dubai’s, to airports in the US, voicing his wishes to upgrade them.
According to Reuters, more than one US official, including Charles Rivkin, the US assistant secretary of state for economic and business affairs, received a message from Sheikh Abdullah bin Mohamed bin Saud al-Thani, informing them of Qatar’s willingness to invest.
However, they were not given an specifications or details, such as when and how the money will be invested. The Qatari state had previously said that it had plans to invest up to $35 billion in various US projects between the years 2016 and 2021. It is unclear if the $10 billion will be part of those plans, or a new side-venture.
The Qatar Investment Authority holds is one of the world’s largest sovereign funds. They have been investing heavily in foreign projects such as infrastructure, real estate and energy in an attempt to move Qatar’s economy beyond its oil dependence. Earlier this year, the Qatar Investment Authority invested in real estate in New York, San Francisco and London, as well as in Russian and British energy companies.