Sheikh Mohamed Bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, meets Imran Khan, Prime Minister of Pakistan, at the Presidential Palace in Abu Dhabi in this November file photo.
PHOTO BY WAM
DUBAI – The UAE will deposit $3 billion (Dh11 billion) in the State Bank of Pakistan to support the country’s financial and monetary policy, state news agency WAM reported on Friday (December 21).
According to the Abu Dhabi Fund for Development, the money will be deposited in the next few days to enhance the liquidity and monetary reserves of foreign currency at the bank.
Pakistan’s economic woes has led to a devalued currency, which dropped by more than a quarter of its value.
The UAE’s support for Pakistan’s fiscal policy is based on historical ties between the two countries, according to WAM.
“I want to thank the UAE government for supporting Pakistan so generously in our testing times. This reflects our commitment and friendship that has remained steadfast over the years,” Prime Minister Imran Khan said in a tweet on Friday. WAM/GAD/Expat Media
Dubai tourist visa, visit visa during Covid-19: All you need to know
New UAE travel rule from August 1: Covid-19 test report for all arriving passengers
Soon you can be co-owner of Dubai hotel apartments
UAE reports lowest number of Covid-19 cases since April
NMC Health secures $250 million financing facility
Sharjah public beaches allowed to reopen
Indians take Dh12 million Big Ticket jackpot, 6 cash prizes
Indian engineer falls from Sharjah building, investigation continues
Emirati boy wins BMW X2 in Sharjah Shopping Promotions draw
Millions return to lockdown in Philippines amid Covid-19
Got a tech innovation in UAE? You could win Dh8,000 in YouthTech Competition
Wanted British drug smuggler arrested in Dubai, extradited to UK