UAE consents to renew a $2 billion loan and provide an additional loan of $1 billion.
ABU DHABI: The President of the UAE agreed to roll over the existing loan of US$ 2 billion and provide US$ 1 billion additional loan, says a Press release issued by the Prime Minister’s Office, here Thursday.
Prime Minister Muhammad Shehbaz Sharif met His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates in Abu Dhabi today.
His Highness Sheikh Mohamed bin Zayed welcomed Prime Minister Sharif to Abu Dhabi and wished progress and prosperity for Pakistan. He praised the historical relations between the two nations and the valuable contributions made by the Pakistani community in the UAE.
The Prime Minister thanked the UAE President for inviting him to the brotherly country. The two leaders discussed the fraternal relations existing between Pakistan and the UAE; and explored ways and means to further strengthen these ties, especially in the fields of trade, investment and energy. The two leaders also had an exchange of views on regional and international issues of mutual interest.
Both sides agreed to deepen the investment cooperation, stimulate partnerships and enable investment integration opportunities between the two countries.
They also expressed satisfaction over the pace of steady progress in bilateral relations. They agreed on the importance of enhanced bilateral exchanges and regular dialogue at all levels to further solidify and provide momentum to the relationship.
The President of the UAE agreed to roll over the existing loan of US$ 2 billion and provide US$ 1 billion additional loan.
Prime Minister Shehbaz Sharif invited His Highness Sheikh Mohamed Bin Zayed President of the UAE for a state visit to Pakistan to which he agreed. The dates will be decided through diplomatic channels.
APP adds: Prime Minister Muhammad Shehbaz Sharif on Thursday said that Pakistan had great investment opportunities, and the government was taking all necessary steps to facilitate investors.
The Prime Minister was talking to a delegation of investors and businessmen of the United Arab Arab Emirates (UAE), which called on him here.
The delegation comprised Mohamed Hassan Al-Suwaidi, Chief Executive Officer of Abu Dhabi Developmental Holding Company (ADQ), Syed Basar Shueb, Managing Director of International Holdings Company (IHC) and others.
During the meeting, the delegation was briefed with regard to geo-economic potential of Pakistan in the areas of food and agriculture, aviation, power, alternate energy including solar energy, financial services, healthcare, industry, logistics, real estate, tourism and hospitality.
Mohammed Hassan Al-Suwaidi showed interest in expanding the ADQ’s global presence and readiness to explore business and investment potential of Pakistan.
ADQ is one of the largest holding companies in the Middle East region with a diverse portfolio of large enterprises covering key sectors of the non-oil economy of Abu Dhabi.
The meeting was attended by Minister for Finance and Revenue Ishaq Dar, Minister for Defence Khawaja Asif, Minister for Aviation Khawaja Saad Rafique, Minister for Investment Board Saalik Hussain and senior government officers.