Qatar promises $15 billion investment in Turkey

Qatar’s ambassador to Turkey, Salem bin Mubarak al-Shafi, has announced $15 billion worth of investment in the country in solidarity with Turkey during its currency crisis, opposition newspaper Cumhuriyet said.

“Just as during the 2016 failed coup attempt in 2016, Qatar will continue to stand with its Turkish brothers and is always the first to rush to the aid of the Turkish people,” al-Shafi said.

The Turkish lira rose to 5.85 to the dollar on the news after several days of exchange rates over 6.

Al-Shafi also said that the Qatari people had exchanged tens of millions of dollars into Turkish lira in order to support the currency, which had declined after U.S. President Donald Trump placed sanctions on Turkey over the continued jailing of an American pastor.