UAE to rollover $2bn loan, promises additional $1bn to Pakistan

ABU DHABI: United Arab Emirates has agreed to roll over Pakistan’s two billion dollars current loan and provide additional loan of one billion dollar.

UAE’s President Sheikh Mohamed Bin Zayed Al Nahyan conveyed this during a meeting with Prime Minister Shehbaz Sharif in Abu Dhabi on Thursday.

The UAE’s President wished progress and prosperity for Pakistan. He praised the historical relations between the two nations and the valuable contributions made by the Pakistani community in the UAE.

Both sides agreed to deepen the investment cooperation and stimulate partnerships.

They also expressed satisfaction over the pace of steady progress in bilateral relations. They agreed on the importance of enhanced bilateral exchanges and regular dialogue at all levels to further solidify and provide momentum to the relationship.

The two leaders discussed the fraternal relations between the two countries and explored ways and means to further strengthen these in the fields of trade, investment and energy.

They also had an exchange of views on regional and international issues of mutual interest.

Prime Minister Shehbaz Sharif invited the President of the UAE for a state visit to Pakistan to which he agreed. The dates will be decided through diplomatic channels.

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