ISLAMABAD – Pakistanto receive $6 billion assistance package from theUnited Arab Emirates (UAE), sources said Sunday.
The sources further explained that the interest rate on the amount the UAEwill deposit in the State Bank of Pakistan (SBP) will be at an interestrate of 2.18 percent.
The monetary package, courtesy of the Emirates, is expected to comprisecheaper loans and budget support as part of the economic aid, sourcesadded. In addition, the UAE is also expected to sell on credit $3 billionworth of oil for three years — oil valued at $250 million every month.
Earlier, on Friday, the UAE had announced to deposit $3 billion in the SBPto support Pakistan’s financial and monetary policy.link link
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It will do so “to support the financial and monetary policy of the IslamicRepublic of Pakistan and to enhance liquidity and monetary reserves offoreign currencies at the State Bank of Pakistan”, the UAE Embassy inIslamabad had said in a statement.
