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Qatar plans to raise some $110 billion in project financing by 2010 in loans of up to 30 years, the country’s economy minister said.
The country has launched a massive overhaul of its infrastructure, including a new airport and port, to keep pace with rapid economic growth.
The government is also scrambling to develop roads and services in time for the Asian Games, which Doha will host next year.
“At the moment, Qatar is in the market and looking for lenders,” economy minister Shaikh Mohamed bin Ahmed Al Thani said from Washington, where he was attending a meeting of the World Bank and International Monetary Fund.
“We are transforming the country for the coming 20 to 50 years. We have a route map for diversification,” he added.
Shaikh Mohamed said most projects would seek limited recourse finance rather than sovereign-backed debt, although the government is set to take a significant stake in many projects.
