ATHENS, Greece (AP) - Officials in crisis-hit Greece say they have signed an investment deal with Qatar worth a potential $5 billion.

Deputy Foreign Minister Spyros Kouvelis said Friday that the preliminary agreement was signed in New York Thursday at a meeting between Greek Prime Minister George Papandreou and the Emir of Qatar, Hamad bin Khalifa Al Thani.

Planned investments noted in the deal involve state-owned real estate as well as transport and tourism infrastructure.

Greece has promised to slash its massive budget deficit, and came close to bankruptcy in May before being pledged euro110 in rescue loans from European countries and the International Monetary Fund.

Courtesy: The Island Online