The Egyptian economy is set to receive $7.5 billion in Qatari investments, according to a deal reached during President Abdel Fattah al-Sisi’s trip to Doha on Monday, further strengthening Cairo’s rapprochement with Qatar.

The Egyptian presidency said the two countries will work toward a package of $7.5 billion in direct investments from Qatar, without specifying the sectors or timeline.

Sisi arrived in Doha on Sunday for an official visit and was welcomed by Qatari Emir Sheikh Tamim bin Hamad Al Thani upon his arrival. The two held official discussions on Monday about bilateral relations, including trade and Qatari investment in Egypt. On the regional front, the leaders discussed efforts to reach a ceasefire between Israel and Hamas in Gaza, as well as developments in Syria, Sudan and Lebanon, according to Egypt’s State Information Service.

Egypt and Qatar helped broker the January ceasefire and hostage deal between Israel and Hamas in an effort to halt the war that began in October 2023, following the Palestinian group's attack that killed around 1,200 people. The agreement broke down last March, leading to renewed fighting in the Palestinian enclave. Gaza-based authorities say more than 50,000 people have been killed, and the United Nations estimates $53.2 billion will be required to rebuild the area. Israel believes 24 hostages remain in captivity in Gaza.