‘Generous support’: UAE to deposit $3 billion in the State Bank of Pakistan

Pak-UAE friendship
A file photo of PM Imran Khan during his one-day trip to UAE. PHOTO - PID

UAE generous support to Pakistan. According to WAM(the official news agency of the Emirates), the United Arab Emirates has announced its intention to deposit US$3 billion in the State Bank of Pakistan” to support the financial and monetary policy of the country”.

With this statement, the UAE will match help from Saudi Arabia that in agreement to park $3 billion in Pakistan’s interchange reserves.

In today’s announcement, the Abu Dhabi Fund for Development stated, that it will deposit the said sum in the coming days to improve liquidity and financial reserves of foreign currency at the bank.

The nation’s help for Pakistan’s financial arrangement depends on the authentic ties between the two individuals, said WAM, and the two friendly nations and the longing to additionally build up the respective participation in all fields.

Following the announcement, Prime Minister Imran Khan took to Twitter to thank the UAE government for “UAE generous support to Pakistan in our testing times”.

“This reflects our commitment and relationship that has remained steadfast over the years,” said by the prime minister Imran Khan.

The Abu Dhabi Fund for Development has financed eight advancement extends in Pakistan, with an aggregate estimation of AED1.5 billion, incorporating AED931 million in gifts, according to WAM. The assets will cover the extends in segments, for example, health, energy, roads and education.

Foreign Minister Mehmood Qureshi, additionally thanked the UAE crown prince for “UAE generous support to Pakistan of three billion US Dollar“.

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