ABU DHABI: The United Arab Emirates (UAE) has approved $6.2 billion supportpackage for Pakistan.

As per media report, UAE on Tuesday will sign off the $3 billionbalance-of-payments support package for Pakistan which is expected to“enhance liquidity and monetary reserves of foreign currency” at the StateBank of Pakistan (SBP).

This package “to support the financial and monetary policy of the country”was announced late last year. The amount is expected to be paid to Pakistanin three installments.

This is part of a $6.2 billion support package from UAE to Pakistan to helpaddress the economic crisis of balance of payments.

The country’s support for Pakistan’s fiscal policy is based on thehistorical ties between the two people, *WAM*, the UAE’s official newsagency had said, and the two friendly countries desire to further developthe bilateral cooperation in all fields.

Earlier this month, Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed binSultan Al-Nahyan paid a visit to Pakistan for the first time in 12years. The visit came after the PM invited the prince on his visit to theUAE, making it the third meeting over the past three months.