Pakistan Expects $2 Billion UAE Loan Soon

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Economy

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Pakistan is seeking financing from friendly countries to bridge the nation’s current account gap of at least $12 billion for the fiscal year ending June and it has already obtained $3 billion from Saudi Arabia.

Sunday 10, March 2019

(Bloomberg) --Pakistan will soon get a $2 billion loan from the UAE as part of a package that will help boost its dwindling finances.

In a statement, the Government stated that it has already received $1 billion in January in the first tranche of a $3 billion agreement between the Abu Dhabi Fund for Development (ADFD) and the State Bank of Pakistan (SBP).

Abid Qamar, the Spokesman of State Bank Pakistan, said, “The remaining funds are expected to be received today or tomorrow.”

TAGS : State Bank of Pakistan, Prime Minister Imran Khan, ADFD, UAE, Saudi Arabia

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