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"Helping hand for savings banks," headlines ABC, in the wake of the announcement made by Qatari Premier Hamad bin Jassim al-Thani, on the occasion of José Luís Rodriguez Zapatero’s visit to the Arab Gulf States: Qatar "will invest 2.7 billion euros in the Spanish economy and 300 million in the recapitalisation of Spanish banks," which, the Madrid daily explains, are very vulnerable in the wake of the collapse of the property market. The money is to be provided Qatar Investment Authority, which is funded by oil and gas revenues. ABC notes that Qatar is the third largest gas supplier in Spain, and, in the light of the politically unstable situation in the Maghreb, which could affect supplies from Algeria and Libya, it was natural for Madrid government to turn to its counterpart in the Arab state. With regard to Spanish companies, the newspaper points out that, in the run-up to the Doha World Cup in 2022, they will participate in the bidding for Qatari infrastructure projects worth an estimated 150 billion dollars (€108.5 bn).
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