Tuesday November 30, 2021

UAE grants extension in $2b loan repayment to Pakistan

The UAE had, earlier, determined April 19 as the deadline for the loan repayment

By Web Desk
April 20, 2021
Foreign Minister Shah Mehmood Qureshi and his UAE counterpart Sheikh Abdullah bin Zayed Al Nahyan during a meeting.  Photo Courtesy: Jang

ABU DHABI: The United Arab Emirates (UAE) on Tuesday extended the deadline for the repayment of a $2 billion loan given to Pakistan in 2020.

UAE's Sheikh Abdullah informed Foreign Minister Shah Mehmood Qureshi about the decision of the UAE government regarding the extension in a meeting held in Abu Dhabi. It was due on April 19.

The UAE had provided $2 billion loan deposits in early 2020 to Pakistan as part of a bailout package to the government of Prime Minister Imran Khan.

During the meeting, FM Qureshi also briefed his counterpart regarding the dangers posed by human rights violations and Indian policies in occupied Kashmir and the region.

The two foreign ministers also deliberated upon other issues, including the Afghan peace process.

Later, Qureshi extended an invitation to Sheikh Abdullah for a visit to Pakistan, which he accepted.

Both officials agreed to enhance bilateral cooperation on international forums.