The United Arab Emirates has extended $200 million aid to cash-strapped Pakistan for the development of the small and medium-sized enterprises in the country.
The announcement came after Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan concluded his one-day visit to the country on Thursday.
Abdul Hafeez Shaikh, Finance Adviser to Prime Minister Imran Khan, has said on Thursday that “the money will be spent on small business promotion and jobs. This support is testimony to the expanding economic relations and friendship between our countries.”
The Crown Prince directed the Khalifa Fund for Enterprise Development to allocate USD 200 million in order to assist the Pakistani government’s efforts to create a stable and balanced national economy that will help achieve the country’s sustainable development, Dawn News reported on Friday.