UAE rolls over $2b existing loan, provides another billion to Pakistan

Prime Minister Muhammad Shehbaz Sharif on Thursday met UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi wherein the latter agreed to roll over the existing loan of US$2 billion and provide US$1 billion additional loan to Pakistan, reported 24NewsHD TV channel.

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

#PMShehbazinUAE pic.twitter.com/omWCGaXvXO

— Marriyum Aurangzeb (@Marriyum_A) January 12, 2023

Sheikh Mohamed bin Zayed welcomed Prime Minister Shehbaz Sharif 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 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.

Prime Minister’s Meets the President of United Arab Emirates. The President of the UAE agreed to roll over the existing loan of US$ 2 billion and provide US$ 1 billion additional loan pic.twitter.com/h6pEhm6IuM

— Marriyum Aurangzeb (@Marriyum_A) January 12, 2023

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.