National News

DUBAI: United Arab Emirates will give $3 billion to Pakistan as a loan and an agreement in this regard has been signed, sources said Tuesday.Sources said the agreement for $3 billion loan was signed by Governor State Bank of Pakistan Tariq Bajwa and Chairman Abu Dhabi Development Fund.As per the accord, UAE will transfer $1 billion to Pakistan within a few days while the remaining $2 billion will be handed over in two installments in two weeks. It was reported that Sheikh Mohammed was expected to officially announce a support package for Pakistan during his two-day visit to the country on January 6. But no such announcement was made.Reportedly, all relevant terms and conditions were finalised, and the UAE was about to induct $3 billion cash deposit into the Pakistan economy and $3.2 billion worth of oil supplies on deferred payments for one year.

from The News International - National http://bit.ly/2FGidQD

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