UAE Crown Prince extends $200m aid to Pakistan

United Arab Emirates (UAE) Crown Prince Sheikh Mohammed bin Zayed Al Nahyan has departed after completing a one day visit of Pakistan.

According to details, UAE allocated $200 million of aid to support small and medium-sized enterprises, SMEs, in Pakistan.

The announcement was made on the sidelines of Crown Prince of UAE visit to Pakistan, aims to support economic projects in Pakistan.

His Highness of Abu Dhabi Sheikh Mohammed Bin Zayed Al Nahyan was arrived in Islamabad for a day-long lookup here on Thursday.

Prime Minister Imran Khan received Crown Prince of Abu Dhabi at Noor Khan Airbase.

This visit marks Sheikh Mohamed’s first official foreign visit in 2020. Earlier, UAE crown prince had last visited Pakistan on January 6 in 2019.

Abu Dhabi crown prince held a meetings with the top Pakistani leadership.

He also had a one-on-one meeting with Prime Minister Imran Khan followed by a luncheon to be hosted by the premier.

Spokesperson foreign office Dr Aisha Farooq stated that Frequent exchange of high-level visits between Pakistan and the UAE is reflective of the importance that the two countries attach to their fraternal ties.

She added the visit also illustrates the strength and substance of the Pakistan-UAE special relationship.

Pakistan–United Arab Emirates relations

The UAE is Pakistan’s largest trading partner in the Middle East and a major source of investments.

It is also among Pakistan’s prime development partners in education, health, and energy sectors.

UAE hosts more than 1.6 million expatriate Pakistani community.

It will contribute remittances of around $4.5 billion annually to the GDP.

UAE announces to invest $5 billion in Pakistan

The visit of Crown Prince will contribute to further enhancement of multi-faceted collaboration between Pakistan and the UAE.

Earlier, Prime Minister Imran Khan had made a telephone call to the Crown Prince and exchanged views on bilateral relations.

Matters of mutual interest, regional and international affairs were came under discussion during the  conversation.

The two leaders had also discussed ways of further deepening bilateral cooperation in all spheres.

They agreed to maintain close consultations on regional and international issues.

Earlier on October 4, the United Arab Emirates (UAE) invested five billion dollars in an oil refinery project in Pakistan.