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UAE ruler agrees to grant $1b in mortgage, roll over current $2b

  • PM Shehbaz, UAE president talk about fraternal ties between two international locations
  • Each leaders comply with deepen funding cooperation, stimulate partnerships

ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif and Sheikh Mohamed bin Zayed Al Nahyan, President of United Arab Emirates in Abu Dhabi held a gathering on Thursday whereby it was agreed that the UAE will roll over the prevailing mortgage of $2 billion and supply $1 billion extra mortgage.

His Highness Sheikh Mohamed bin Zayed welcomed Prime Minister Sharif to Abu Dhabi and wished progress and prosperity for Pakistan. He praised the historic relations between the 2 nations and the dear contributions made by the Pakistani group within the UAE.

The Prime Minister thanked the UAE President for inviting him to the brotherly nation. The 2 leaders mentioned the fraternal relations current between Pakistan and the UAE; and explored methods and means to additional strengthen these ties, particularly within the fields of commerce, funding and power.

Earlier, Prime Minister Shehbaz Sharif arrived within the UAE on a two-day official go to to debate bilateral commerce and investments. He was welcomed in Abu Dhabi by Sheikh Mohamed bin Zayed Al Nahyan.

UAE’s Minister of Financial Affairs Abdullah Touq Al Marr obtained the prime minister and his delegation on their arrival on the Abu Dhabi airport.

Through the assembly with the UAE president, the 2 leaders mentioned the fraternal relations current between Pakistan and the UAE; and explored methods and means to additional strengthen these ties, particularly within the fields of commerce, funding and power.

The 2 leaders additionally had an trade of views on regional and worldwide problems with mutual curiosity.

Either side agreed to deepen the funding cooperation, stimulate partnerships and allow funding integration alternatives between the 2 international locations.

In addition they expressed satisfaction with the tempo of regular progress in bilateral relations. They agreed on the significance of enhanced bilateral exchanges and common dialogue in any respect ranges to additional solidify and supply momentum to the connection.

The UAE president agreed to roll over the prevailing mortgage of $2 billion and supply a further mortgage of $1 billion.

The PM invited Sheikh Mohamed Bin Zayed President for a state go to to Pakistan to which he agreed. The dates for the go to are to be determined by means of diplomatic channels later.

Shehbaz is visiting the gulf state on the invitation of the UAE President. That is his third official go to since he assumed the workplace of prime minister.

The premier may also meet the UAE Prime Minister and Vice President and Ruler of Dubai Sheikh Muhammad bin Rashid Al Maktoum.

Through the conferences with Emirati businessmen and traders, the PM will talk about methods to reinforce bilateral commerce and funding.

The UAE is dwelling to round 1.7 million Pakistanis who’ve been taking part in a pivotal function within the success story of the gulf state for the final 5 a long time, contributing to the progress, prosperity and financial improvement of the 2 international locations.

Saudi’s $1b announcement

PM Shehbaz appreciated Saudi Arabia for extending help to Pakistan in tough occasions, following the nation’s announcement of $1b for Pakistan’s flood aid.

“Pakistan is grateful for the announcement of $1 billion made by Saudi Arabia’s Prime Minister and Crown Prince of Mohammed bin Salman for the rehabilitation of Pakistan’s flood victims,” he mentioned.

He expressed these views in a gathering with the Chief Govt Officer (CEO) of the Saudi Fund Sultan Al Murshid, who led a four-member delegation.

The premier mentioned Pakistan extremely values the dominion’s help within the rehabilitation of flood victims.

Through the assembly, numerous improvement tasks of Saudi Arabia in Pakistan have been additionally reviewed.

The assembly was attended by Finance Minister Ishaq Dar, Legislation Minister Nazir Tarar, Adviser to Prime Minister Ahad Cheema and senior officers.

 

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