UAE's decision to extend the current loan period to Pakistan, an additional $1 billion

Prime Minister Shehbaz Sharif meeting with the President of UAE Sheikh Muhammad Zayed Al Nahyan

Prime Minister Shehbaz Sharif meeting with the President of UAE Sheikh Muhammad Zayed Al Nahyan

UAE President Sheikh Mohammad Zayed Al Nahyan has agreed to extend Pakistan's current $2 billion loan and provide an additional $1 billion loan.

In a statement issued by the Prime Minister's Office, it is said that Prime Minister Shahbaz Sharif met the President of the United Arab Emirates, Sheikh Muhammad Zayed Al Nahyan, on the first day of his visit to Abu Dhabi on Thursday.

The President of UAE welcomed the Prime Minister in Abu Dhabi and expressed his best wishes for the development and prosperity of Pakistan. He appreciated the historic ties between the two countries and the valuable services of the Pakistani community in the UAE.

Prime Minister Muhammad Shahbaz Sharif thanked the President of the United Arab Emirates for the invitation to visit the brother country. On this occasion, the two leaders discussed the existing fraternal relations between Pakistan and the United Arab Emirates and expressed their desire to further strengthen relations in the fields of trade, investment and energy.

The two leaders also discussed regional and global issues of mutual interest. The two leaders agreed to further expand investment cooperation, promote partnership and increase investment between the two countries.

The leaders also expressed satisfaction at the steady pace of progress in bilateral relations while agreeing on the importance of further strengthening ties and bilateral exchanges and formal dialogue at all levels.

On this occasion, the President of the United Arab Emirates also agreed to extend the current loan period of 2 billion dollars and provide an additional loan of 1 billion dollars.

Prime Minister Shahbaz Sharif invited the President of UAE to visit Pakistan, to which he expressed his consent, for which the date will be determined through diplomatic channels.