Historically, Qatari investment in Italy has been insignificant due to perceived corruption in Italy by Qatari officials. In April 2013, the Qatari government purchased Palazzo della Gherardesca in Florence for €150 million. Investment relations started to improve in 2015 with the assistance of Prime Minister Matteo Renzi, who discussed possible investment opportunities with Emir Tamim bin Hamad at the November 2015 U.N. Climate Conference in Paris. Negotiations over-investment in the Banca Monte dei Paschi di Siena between Renzi and Tamim bin Hamad began two months later, but were halted after Renzi resigned as Prime Minister. In 2017, the value of Qatari investments in Italy was at roughly €2 billion and was mostly centered in Italy's tourism industry.