UAE ‘huge investment’ plans for Pakistan

 

Sheikh Mohamed Bin Zayed Al Nahyan, president of the UAE, said on Wednesday that his nation was thinking about increasing its investment in Pakistan, whose economy urgently needs such infusions to remain afloat in the face of a financial crisis.

President Al Nahyan, who arrived in Pakistan on a private visit, met with Prime Minister Shehbaz Sharif.
The dignitary was welcomed by PM Shehbaz and senior government officials at Chandna Airport.

During a friendly encounter with Prime Minister Shehbaz at the airport, the UAE president reportedly said, “Be prepared, UAE will make a significant investment in Pakistan.

The Prime Minister reflected on his most recent trip to the UAE and emphasised that both nations will seek to implement the agreements struck between the two leaders in a number of areas during that trip.

According to the president of the UAE, their brotherly ties date back many years, and his father, who had a deep love for Pakistan and its people, lay the groundwork for their bilateral relations.

The UAE would always support Pakistan, the president also gave the prime minister assurances.

The premier posted on Twitter: “We were overjoyed to welcome my brother, His Highness Sheikh Mohamed Bin Zayed, to his second home, Pakistan.
We talked about methods to further develop our fraternal ties in light of our previous meeting.”

When the prime minister first arrived in Pakistan, the president showed him genuine sympathy and escorted him to his private jet, according to sources quoted by Geo News.

According to the sources, the premier also visited with the president’s family and spoke to the president’s children in both English and Arabic.

The UAE agreed to give Pakistan $1 billion and roll over an existing $2 billion loan on January 12, according to the Pakistani information minister, as the nation’s central bank’s foreign reserves had shrunk to only three weeks’ worth of imports.

The UAE’s financial assistance gave the nation, which is still recovering from devastating countrywide floods that have cost more than $30 billion in damage, some solace.

Shehbaz Sharif, the prime minister of Pakistan, announced the loans as he began a two-day trip to the United Arab Emirates.
In a statement, Sharif stated, “This support will help us weather economic hardships.

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