Islamabad: United Arab Emirates (UAE) has announced to give $3 billion to Pakistan. It will deposit $3 billion (Dh11 billion) in the State Bank of Pakistan to support the country’s financial and monetary policy. State news agency Wam reported that the Abu Dhabi Fund for Development said it will deposit the money over the next few days to enhance liquidity and monetary reserves of foreign currency at the Bank.
Thanking UAE for its support, Prime Minister Imran Khan tweeted on Friday, “I want to thank the UAE government for supporting Pakistan so generously in our testing times. This reflects our commitment and friendship that has remained steadfast over the years.”
Besides Prime Minister, Foreign Minister Shah Mahmood Qureshi also thanked the UAE for its financial support.
It must be noted that Pakistan’s economic difficulties have led the country to devalue its currency five times, slashing its value by more than a quarter.