UAE extends $200m aid to Pakistan for economic projects


PTI, Jan 3, 2020, 1:03 PM IST

Islamabad: The United Arab Emirates has extended USD 200 million aid to Pakistan for the development of the small and medium-sized enterprises in the country, Finance Adviser to Prime Minister Imran Khan has said.

The announcement came after Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan concluded his one-day visit to the country on Thursday.

The adviser, Abdul Hafeez Shaikh, on Thursday said “the money will be spent on small business promotion and jobs. This support is testimony to the expanding economic relations and friendship between our countries.”

The Crown Prince directed the Khalifa Fund for Enterprise Development to allocate USD 200 million in order to assist the Pakistani government’s efforts to create a stable and balanced national economy that will help achieve the country’s sustainable development, Dawn News reported on Friday.

During the visit, the prince met Prime Minister Khan and held talks on bilateral, regional and international issues.

The UAE is Pakistan’s largest trading partner in the Middle East and a major source of investments. The UAE is also among Pakistan’s prime development partners in education, health and energy sectors.

It hosts more than 1.6 million expatriate Pakistani community, which contributes remittances of around USD 4.5 billion annually to the GDP.

This is the Crown Prince’s second visit to Pakistan since Khan took office in August 2018. He had last visited Pakistan on January 6 last year, just weeks after his country offered USD 3 billion financial assistance to Pakistan to deal with its balance of payment crisis.

The Crown Prince’s visit was considered by experts as an attempt to woo Pakistan against the backdrop of recent developments when Saudi Arabia and UAE apparently used pressure to stop Pakistan from attending the Kuala Lumpur summit held last month.

The summit from December 19-21 was seen by Saudis as an attempt to create a new bloc in the Muslim world that could become an alternative to the dysfunctional Organisation of Islamic Cooperation led by the Gulf Kingdom.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Shooter Avani Lekhara among 5 para athletes to get Khel Ratna, cricketer Shikhar Dhawan among 35 selected for Arjuna award

Cruise drugs case: Bombay High Court to continue hearing Aryan Khan’s bail plea tomorrow

Karnataka govt increases DA, pension from 21.5% to 24.5%

CBDT expands Form 26AS info list; includes foreign remittances, MF buys

India criticises China for new land border law

COVID-19: Karnataka govt issues fresh guidelines for international travellers

LPG price may be hiked next week; petrol, diesel rates up again

Related Articles More

Hiroshima atomic bombing survivor Sunao Tsuboi dies at 96

Lankan prez appoints task force led by controversial monk for ‘One Country One Law’

Cambodia announces phased reopening to vaccinated tourists

Trump could get big ‘bonus’ shares in new social media firm

‘Additional clarifications’ needed from Bharat Biotech to conduct final assessment of Covaxin: WHO

MUST WATCH

How to do Organic Farming in India | Devdas Hebbar

Mid Day Meal at Dotihala school Koppala

Revenue Minister R.Ashok Say’s Save Kannada Language

Byadagi Chilli Cultivation

The real Rajinikanth a journey from Bus conductor to Superstar


Latest Additions

COVID-19: Kerala logs 9,445 new cases, 622 deaths

Shooter Avani Lekhara among 5 para athletes to get Khel Ratna, cricketer Shikhar Dhawan among 35 selected for Arjuna award

Cruise drugs case: Bombay High Court to continue hearing Aryan Khan’s bail plea tomorrow

Hit-and-run-accident: Bike rider falls to death from flyover

UDF, BJP back protest against SilverLine Project in Kerala

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.