Prime Minister Imran Khan thanked the UAE Govt. for supporting Pakistan
ABU DHABI (December 21, 2018): The United Arab Emirates (UAE) has announced its intention to deposit US$3 billion in the State Bank of Pakistan to support the country’s financial and monetary policy.
The Abu Dhabi Fund for Development, in a statement today, said it will deposit the amount in the coming days to enhance the country’s liquidity and monetary reserves of foreign currency.
Prime Minister Imran Khan in a tweet today (PM) thanked the UAE government for supporting Pakistan and said it reflects commitment and friendship between the two countries.
I want to thank the UAE govt for supporting Pakistan so generously in our testing times. This reflects our commitment and friendship that has remained steadfast over the years.
— Imran Khan (@ImranKhanPTI) December 21, 2018
Foreign Minister Shah Mehmood Qureshi also in his tweet welcomed the development and thanked ‘His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi ‘ for the generous financial support .
We thank Crown Prince H.H @MohamedBinZayed for his generous financial support of US$ 3 Billion. This is a manifestation of the close fraternal ties between Pakistan & UAE which have always stood the test of time.
— Shah Mahmood Qureshi (@SMQureshiPTI) December 21, 2018
The Imran Khan led government has also approached China and the International Monetary Fund to seek packages to support the economy.
Finance Minister Asad Umar on Thursday said the country’s foreign exchange reserves have increased by 12.5 percent.
The Abu Dhabi Fund for Development has previously financed eight development projects in Pakistan worth a total of AED1.5 billion, including AED931 million in grants. The funds covered projects in sectors such as energy, health, education and roads.
Photo Source/Courtesy: mediaoffice.ae