As what seems to be yet another bailout taken from the government of Pakistan, Pakistan has once again sought out to foreign nations in this time of great crisis. On Friday the UAE officially announced that a deposit worth $3 Billion was made to the central bank of Pakistan in order to provide some sort of financial backing to help Pakistan get out of this crisis it has gotten itself in to. The UAE will deposit this amount in the State Bank of Pakistan to aid for the monetary policy of Pakistan.
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In a statement lodged by the Abu Dhabi Fund for Development, it states that the UAE will deposit the above-mentioned amount in the following days to enhance and better the liquidity and monetary reserves of the foreign currency in its bank. Moreover, It should be noted that the relationship between Pakistan and UAE has always been positive for both sides, with examples of UAE, supporting Pakistan before are not forgotten. The Abu Dhabi Fund for Development has financed about eight development projects in Pakistan with a total of about Dh 1.5 Billion and Dh 931Billion also been sent to Pakistan as grants.
UAE Offers Pakistan $3 Billion to Help Them Out of Their Current Financial Crisis
Furthermore, the financial package was under discussion between the two countries for quite some time, and it was only a matter of time before the deal would break through! Which it has done. The Prime Minister of Pakistan also paid a visit to the UAE in the past few days to help bolster the economic relationship between the countries which has beared fruit in the end after all. Now, immediately after the announcement was made of the Foreign Minister of Pakistan on twitter, thanked the UAE for their active participation in helping Pakistan in these tough times.
