UAE grants extension in $2 bn loan repayment to Pakistan
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April 21, 2021
ISLAMABAD: The United Arab Emirates (UAE) has decided to roll-over the $2 billion deposit by the Abu Dhabi Fund to Pakistan, with assurance that the Emirate was committed to extend every possible support to Pakistan.
The UAE had provided a $2 billion loan deposit in January and February 2020 which have now matured. The announcement was made by UAE’s Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan in a meeting with Foreign Minister Shah Mahmood Qureshi at the UAE’s Ministry of Foreign Affairs in Abu Dhabi on Monday night.
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Pakistan gets US$ 2 billion roll-over from UAE
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ABU DHABI, UAE: Pronouncing the United Arab Emirates’ (UAE) decision to roll-over the US$ 2 billion deposit by the Abu Dhabi Fund, the UAE Foreign Minister His Highness Sheikh Abdullah bin Zayed Al Nahyan has affirmed the commitment to extend every possible support to Pakistan.
Talking to the Foreign Minister Shah Mahmood Qureshi at the UAE’s Ministry of Foreign Affairs in Abu Dhabi on Monday evening, His Highness Sheikh Abdullah acknowledged the valuable role played by the Pakistani diaspora in the UAE’s growth and prosperity.
Qureshi thanked his UAE Counterpart, underscoring that the decision reflected the warm and brotherly ties between the two Countries.
Foreign Minister Qureshi appreciated the UAE progress and development over the last five decades.
He attributed this achievement to the sagacious and visionary leadership of the nation. Foreign Minister Abdullah thanked him and acknowledged the valuable role played by Pakistani diaspora in the UAE’s growth and prosperity.
The two foreign ministers reaffirmed their mutual desire to further strengthen cordial relations between the two nations. They reviewed the entire gamut of bilateral relations, discussing ways to enhance cooperation in diverse areas including trade, investment, infrastructure, energy, technology, tourism and manpower.
FM Qureshi outlined his plans for showcasing the history as well as the future potential of Pakistan-UAE cooperation at EXPO 2020 Dubai in October 2021.