Turkey, Qatar In Talks For Up To $10 Billion Funding

Turkey and Qatar are in the final stages of talks for Qatar to provide up to $10 billion in funding for Turkey.

This includes up to $3 billion by the end of this year, two senior Turkish officials and one other source told Reuters.

Reuters reports one of the officials said the total funding could take the form of a swap, Eurobond or other methods, and that the Turkish and Qatari leaders had discussed the issue.

The first official said; "Talks for Qatar to provide new resources to Turkey have reached the final stage. A minimum amount of $8 billion is foreseen but it could total as much as $10 billion.”

The second Turkish official said the talks for $2 billion-$3 billion funding for this year were focused on the Eurobond.

Qatar has strong ties with Turkey, as Turkey supported the country when Saudi Arabia, the United Arab Emirates (UAE), and two other Arab states imposed an embargo on Qatar in 2017 in a row that was resolved early last year.