UAE agrees to rollover Pakistan's $2bn loan, give additional $1bn

UAE agrees to rollover Pakistan's $2bn loan, give additional $1bn

Abu Dhabi (Web Desk/Agencies): Prime Minister Shehbaz Sharif on Thursday met the UAE President Sheikh Mohamed bin Zayed Al Nahyan wherein the latter agreed to roll over the existing loan of US$ 2 billion and provide US$ 1 billion additional loan.

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

Sheikh Mohamed bin Zayed welcomed Prime Minister 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.

PM Shehbaz 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.

They also had an exchange of views on regional and international issues of mutual interest.

The two leaders also expressed satisfaction over the pace of steady progress in bilateral relations.

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.