QATAR — The United Arab Emirates has announced a $100 million loan, which will be repaid in 30 years, to a Qatar Education Fund, an education charity that is the parent organization for the Qatar Institute of Education, to support the development of Qatar’s schools and to improve quality of teaching in Qatar.
The loan, the first in the UAE’s history, was announced by the Emirati Foreign Ministry on Tuesday, the ministry said in a statement.
The ministry did not give further details on the amount or the duration of the loan.
The Qatar Institute for Education is part of the Qatar Foundation, a philanthropic organization founded in 2012 by Sheikh Tamim bin Hamad al-Thani, the country’s emir.
The foundation is headed by Qatari businessman and former Saudi Arabian Prince al-Waleed bin Talal.