Pakistan
UAE to roll over $2 billion loans given to Pakistan
The United Arab Emirates (UAE) will roll over its $2 billion loans that it had earlier given to Pakistan in 2018 as part of the bailout package, a statement issued by Pakistan’s Foreign Office said.
The relief came as the result of the visit of Pakistan’s Foreign Minister Shah Mahmood Qureshi to the Gulf nation.
After the talks between Qureshi and his UAE counterpart Sheikh Abdullah bin Zayed Al Nahyan, the latter confirmed that the $2 billion loans had been rolled over, the Foreign Office said in a statement.
Qureshi also thanked the UAE leadership for its continued support for Pakistan. He said the relief reflects the “warm and brotherly” ties between the two countries.
During the visit, he also raised the issue of the visa ban on Pakistanis in the UAE. However, the UAE so far has not given any assurance on removing visa restrictions. The income from its expatriates' community in Gulf countries supports its economy in a big way.
Qureshi also emphasized the need for nurturing and strengthening people-to-people linkages, as well as removing impediments that hamper travel between the two countries. He appreciated the UAE’s progress and development over the last five decades.
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