Qatar to boost investment in Spain by $4.9 billion

By JOSEPH WILSON
Associated Press

BARCELONA, Spain (AP) — Qatar has committed to investing 4.7 billion euros ($4.9 billion) in Spain as the European country launches an economic overhaul with its share of European Union pandemic recovery funds. Qatar’s emir, Shekih Tamim bin Hamad Al-Thani, made the announcement at a gala dinner held Tuesday by Spanish King Felipe VI. The details of the investments weren’t made public beyond Spain’s government saying that they would help guarantee the country’s “energy security” and its transition to a “green economy.” With Europe scrambling to find alternatives to Russian energy, energy-rich Qatar is positioned to help fill the gap. The emir met with Spanish Prime Minister Pedro Sánchez on Wednesday to sign several agreements in Madrid.