Pakistan and the UAE signed a $ 3 billion bailout package on Tuesday as part of Abu Dhabi's support, which helps in increasing the country's dwindling dollar reserves.

Tariq Bajwa, Head of State Bank of Pakistan SBP and Mohammed Saif Al-Suwadi, Director General of Abu Dhabi Fund for Development ADFD, signed an agreement on Tuesday.

Foreign Office spokesman Mohammad Faisal tweeted, "The United Arab Emirates has formally made a $ 3 billion deposit in the State Bank of Pakistan. DG ADFD and Governor SBP have signed an agreement in ADFD headquarters in Abu Dhabi. Pakistan will be able to achieve financial stability and overcome economic challenges and develop economic development and sustainability of Pakistan. Cross noted the support of ADFD to encourage.

Government officials said that Saudi Arabia and UAE governments have played a major role in helping Pakistan to meet the deficit of approximately $ 12 billion in the balance of payments in the financial year 2018-19.

Related News

:
:
: