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Media in Abu Dhabi 21-12-2018
The United Arab Emirates (UAE) has announced its intention to deposit US $ 3 billion (11 billion dirhams) in Pakistan’s central bank to support Pakistan’s fiscal and monetary policy, the UAE’s WAM news agency reported Friday.
The Abu Dhabi Fund for Development said in a statement that it will deposit $ 3 billion in the Central Bank of Pakistan in the coming days, to enhance liquidity and monetary reserves of foreign currency at the bank.
Pakistan is one of the first countries to establish diplomatic relations with the UAE. The country’s support for Pakistan’s fiscal policy is based on the historical ties between the two peoples and the two friendly countries and enhancing the prospects for their broad cooperation in all fields.
The Abu Dhabi Development Fund has financed 8 development projects in Pakistan with a total value of AED 1.5 billion, of which AED 931 million is in grants.
Fund financing covered projects in several sectors, such as energy, health, education and roads
