(Bloomberg) -- Qatar and the UK announced a new partnership to invest in climate technologies plus a plan to deepen cooperation in financial services, as British Prime Minister Keir Starmer continues a push to spur economic growth.
Qatar will invest £1 billion ($1.27 billion) as part of the climate arrangement with the UK, with the funds going into start-ups in both Britain and Qatar focusing on energy efficiency, carbon management and green power, 10 Downing Street said in an e-mailed statement. The announcement came after Starmer hosted the Emir of Qatar in Downing Street as part of a two-day state visit.
Starmer is looking to deepen economic ties internationally as his new administration seeks to bolster Britain’s sluggish growth rate and bounce back from a rocky start to its tenure in power. The UK and Qatar are also due to sign a memorandum of understanding on financial services on Wednesday, with Chancellor Rachel Reeves and City minister Tulip Siddiq hosting a Qatari delegation in No 11 Downing Street.
The climate partnership with Qatar is “a significant step in our ambition to become a clean energy superpower,” Starmer said in the statement. “We’re delivering on our promise to make growth our number one priority, by boosting our partnerships with other forward-looking partners to invest in UK industry.”
--With assistance from Ellen Milligan.
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