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Abu Dhabi Fund for Development allocates $3 billion to Pakistan

Top Pakistani officials have welcomed today’s announcement by the United Arab Emirates that the Abu Dhabi Fund for Development, ADFD, will deposit US$3 billion, equivalent to AED 11 billion, in the State Bank of Pakistan, to support the bank’s liquidity and foreign currency reserves.

Shortly after the announcement, Pakistan’s Prime Minister Imran Khan posted on Twitter a statement saying: “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.”

Foreign Minister Shah Mahmood Qureshi thanked His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on the twitter for the financial support. In his tweet he said, “We thank His Highness Sheikh Mohamed bin Zayed for his generous financial support of US$ 3 Billion. This is a manifestation of the close fraternal ties between Pakistan and UAE which have always stood the test of time.”

Source: WAM

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