The initial capital for the new fund is 50 million euro. This fund will assist various business projects in order to reconstruct various French suburbs where exclusion is present.
The Qatar fund is now well known in France and the French government intends to participate and co-finance the project as well. The fund will have a capital of 100 million euro and the French influence is increasing.
The majority of the French suburbs present a youth unemployment rate of 40 percent with minimal financial resources, which means that new money is needed.
Since the information about the new fund has reached the inhabitants, several hundred project applications have been submitted.
Qatar already has many large investments in France particularly within sports, culture, entertainment and the media industry.
The French Ministry for the Economy and Finance has just released new details of France’s drive to increase its investment attractiveness to boost employment and business in the country. Read more