Qatar plans to invest $500mn in Lebanese government bonds to support Lebanon's economy, HE the Deputy Prime Minister and Minister of Foreign Affairs Sheikh Mohamed bin Abdulrahman al-Thani said Monday.
The decision was made after a meeting between the His Highness the Amir Sheikh Tamim bin Hamad Al-Thani and Lebanese President Michel Aoun in Beirut on Sunday.
The Amir was in Lebanese capital to attend the Arab Economic and Social Development Summit.
In a statement to Qatar News Agency, Sheikh Mohamed said the move would strengthen the Lebanese economy, adding that Qatar has always been committed to supporting Lebanese people in light of the great challenges they face.
He also said that the decision stems from the profound fraternal ties between the two brotherly countries, stressing Qatar's firm commitment to the Arab brothers, no matter how the circumstances change.
"We wish stability and prosperity for the Lebanese republic and the Lebanese people, and that the Lebanese economy will recover. The region needs a strong and prosperous Lebanon," Mohamed bin Abdulrahman said in the statement.
During their meeting in Beirut, the Amir and Aoun reviewed co-operation between the two brotherly countries and means of promoting them.
They also exchanged views on the current regional and international issues.
The Arab summit was overshadowed by political rifts. Many Arab heads of state pulled out at the last minute.
In addition to the attendance of the Amir, Mauritania’s President Mohamed Ould Abdel Aziz was also present.
“The Qataris are trying to promote a reconciliatory spirit around the region and reconfigure relationships following the siege,” Rami Khouri, a political analyst and fellow at Harvard Kennedy School told Al Jazeera.
Amine Kammourieh, a Lebanese political analyst, said the “Amir’s attendance broke the siege imposed on the summit (by Arab leaders), saving it at the last minute”.