UAE extends $2bn loan relief to Pakistan
MG News | January 07, 2025 at 03:17 PM GMT+05:00
January 07, 2025 (MLN): The United Arab Emirates (UAE) has agreed to roll over a $2 billion loan deposit which will provide much-needed fiscal relief to Pakistan.
The aforesaid information was revealed by Prime Minister Shehbaz Sharif while addressing a cabinet meeting on Tuesday.
“Sheikh Mohamed bin Zayed Al Nahyan happily informed me about the extension and immediately issued directives to implement the decision,” PM Shehbaz shared during the meeting.
The decision follows a recent meeting between PM Shehbaz and UAE President Sheikh Mohamed bin Zayed Al Nahyan in Rahim Yar Khan.
During the meeting, the UAE leader proposed extending the repayment of the loan, originally due in January, as a gesture to bolster Pakistan’s economic stability.
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