France: Qatar creates 50 mn euro fund for suburb start-ups

France: Qatar creates 50 mn euro fund for suburb start-ups


Via AFP:
Qatar has set up a 50-million-euro ($67-million) fund for entrepreneurs from France's often-deprived suburbs to set up businesses, the Gulf nation's ambassador to Paris said Friday.

"Qatar is not just words. We must act. The emir (Sheikh Hamad bin Khalifa al-Thani) decided to create a 50-million-euro fund to work with you," said ambassador Mohamed Jahan al-Kuwari.

"The fund can be increased," Kuwari told a group of 10 French elected local officials, all of North African origin.

The French officials, five men and five women, travelled to Qatar last month to improve economic ties between the wealthy Arab state and France's often-disadvantaged suburbs, where they were received by the emir.

(source)