Pakistan premier says UAE extends $2B loan, offers $1B more

KIFI

Published January 12, 2023 1:29 AM

By JON GAMBRELL
Associated Press

DUBAI, United Arab Emirates (AP) — Pakistan’s prime minister says that the United Arab Emirates agreed to extend a $2 billion loan to his country and provide a additional $1 billion as his nation struggles to recover from devastating floods this summer. Prime Minister Shahbaz Sharif’s office made the announcement after he met Thursday with the leader of the UAE, Abu Dhabi ruler Sheikh Mohammed bin Zayed Al Nahyan. It said Sheikh Mohammed agreed to the loan extension and the new loan. The Emirates did not immediately acknowledge the extension of the loan and the granting of the additional billion.

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