Qatar is asking for 5 percent interest and an 18-month maturity on $3 billion in bonds it has offered to buy from Egypt, an Egyptian official involved in the negotiations said on Monday.

Qatari Prime Minister Sheikh Hamad bin Jassim al-Thani promised the money during a visit to Qatar by Egyptian Prime Minister Hesham Kandil on April 10. The Gulf state had already lent Egypt $5 billion since President Mohamed Morsi took office last July.

The Egyptian official, who asked not to be named, said no agreement had yet been reached on the bonds.

Reuters