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Tuesday January 31, 2023

UAE agrees to rollover existing loan of $2bn, provide $1bn additional loan to Pakistan

Prime Minister Shehbaz Sharif invites UAE President Sheikh Mohamed Bin Zayed for state visit to Pakistan

By APP & Web Desk
January 12, 2023
Prime Minister Shehbaz Sharif meets UAE President Sheikh Mohamed bin Zayed in Abu Dhabi. — APP
Prime Minister Shehbaz Sharif meets UAE President Sheikh Mohamed bin Zayed in Abu Dhabi. — APP

ABU DHABI: Prime Minister Shehbaz Sharif on Thursday met UAE President Sheikh Mohamed bin Zayed Al Nahyan wherein the latter agreed to rollover an existing loan of US$2 billion and provide an additional loan of US$1 billion, Federal Information Minister Marriyum Aurangzeb shared.

In the meeting that took place in Abu Dhabi during the premier's two-day visit, both sides agreed to deepen investment cooperation, stimulate partnerships and enable investment integration opportunities between the two countries.

Sheikh Mohamed bin Zayed welcomed PM Shehbaz to Abu Dhabi and 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, the information minister wrote on Twitter.

The prime minister thanked the UAE president for inviting him to the brotherly country.

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

The two leaders also had an exchange of views on regional and international issues of mutual interest.

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.

Prime Minister Shehbaz Sharif invited Sheikh Mohamed Bin Zayed for a state visit to Pakistan to which he agreed. The dates will be decided through diplomatic channels.

Ahead of his departure to the UAE, PM Shehbaz, in a tweet, had said both Pakistan and the UAE share a resolve and understanding that continuous efforts need to be made to further strengthen trade, investment and economic relations.