Business

UAE ruler will grant a $1b loan and roll over existing $2 billion

UAE ruler will grant a $1b loan

  • PM Shehbaz, UAE president, discuss the friendship between the two nations

  • Both leaders have agreed to strengthen cooperation in investment and encourage collaboration

ISLAMABAD: The Prime of the Cabinet Muhammad Shehbaz Sharif and Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates in Abu Dhabi met on Thursday. It was decided to the UAE will carry over the current loan of $2 billion and offer an additional $1 billion in loan.

His Her Majesty Sheikh Mohamed bin Zayed welcomed Prime Minister Sharif to Abu Dhabi and wished Pakistan progress and prosperity. He expressed gratitude for the longstanding ties between the two nations as well as for the Pakistani community’s important contributions to the UAE.

The Prime Minister expressed gratitude to the President of the UAE President for welcoming him to the friendly country. Both leaders discussed the close ties between Pakistan as well as the UAE and discussed methods and strategies to enhance these bonds, particularly in the realms of investment, trade and energy.

Prior to that, Prime Minister Shehbaz Sharif was in the UAE for a two-day official tour to review bilateral trade agreements and investment. 

The UAE’s Minister for Economic Affairs Abdullah Touq Al Marr received the premier and his entourage on their arrival at Abu Dhabi airport.

At the meeting, the UAE president and the two leaders talked about the solidified ties. Looked for ways to strengthen these relations, particularly in the areas of investment, trade, and energy, between Pakistan and the UAE.

They also engaged in a discussion of opinions on international and regional topics of mutual concern.

Both sides have agreed to strengthen investment cooperation, boost collaboration and create investment integration opportunities between the two countries.

They were also pleased with the speed of constant improvement on bilateral relations. They both agreed on the significance of intensifying bilateral exchanges and regular dialogue at all levels in order to strengthen and give vitality to the relationship.

The UAE president ratified rolling over the loan amount of $2 billion and offer an additional loan of $1 billion.

 

Shehbaz is in the Gulf state at the invitation of The UAE President. It was his third visit to the UAE since taking the position of Prime Minister.

The UAE Vice President, Prime Minister, and Sheikh Muhammad bin Rashid Al Maktoum, ruler of Dubai. Will all meet with the premier as well.

The PM will discuss measures to increase trade and investment between two nations during talks with Emirati investors and companies.

More than 1.7 million Pakistanis reside in the UAE and have contributed significantly over the past 50 years to the success of the Gulf State. This has aided in the prosperity, growth, and economic development of both countries.

Saudi’s announcement of $1b

The support Saudi Arabia had given to Pakistan had gratified PM Shehbaz. In difficult times following the nation’s announcement of $1 billion to aid in the relief of Pakistan’s floods.

He continued, “Pakistan is appreciative of the $1 billion pledge. He continued, “Pakistan is appreciative of the $1 billion pledge. Made by the Crown Prince and Prime Minister of Saudi Arabia, Mohammed bin Salman. For the rehabilitation of Pakistan’s flood victims.

He made these remarks during a discussion in a meeting with the CEO of the Saudi Fund Sultan Al Murshid who was the leader of a four-member group.

The premier stated that Pakistan is extremely grateful for the assistance of the kingdom in aiding flood survivors’ rehabilitation.

 

The gathering included Finance Minister Ishaq Daq and Law Minister Nazir Tarar, Adviser of Prime Minister Ahad Cheema, and other senior officials.

 

 

 

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