DUBAI: Pakistan and United Arab Emirates have signed an agreement to grant $3 billion loan to Islamabad, sources said Tuesday.Sources said agreement for $3 billion loan was signed by Governor State Bank of Pakistan Tariq Bajwa and Chairman Abu Dhabi Development Enjoymentd.As per accord, UAE shall transfer $1 billion to Pakistan within a few days while remaining $2 billion shall be handed over in two installments in two weeks.
Crown Prince of Abu Dhabi and Deputy Supreme Commander of United Arab Emirates (UAE)'s Armed Forces Sheikh Mohammed bin Zayed Al Nahyan visited Pakistan in first week of January.It was reported that Sheikh Mohammed was expected to officially announce a support package for Pakistan during his two-day visit to country on January 6.
But no such announcement was made.Reportedly, all relevant terms and conditions were finalised, and UAE was about to induct $3 billion cash deposit into Pakistan economy and $3.2 billion worth of oil supplies on deferred payments for one year.TheIndianSubcontinent has not verified the content of the source.
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