UAE, Pakistan, loan repayment, UAE Pakistan

UAE extends $2b loan repayment deadline for Pakistan

The United Arab Emirates (UAE) on April 20 granted Islamabad an extension on the due date of the payment of a $2 billion loan given to Pakistan in 2020.

The development came during a meeting between Foreign Minister Shah Mehmood Qureshi and his UAE counterpart Sheikh Abdullah bin Zayed Al Nahyan in Abu Dhabi.

Sheikh Abdullah informed him about the decision of the UAE government regarding the loan repayment. The UAE had, earlier, determined April 19 as the deadline for the loan repayment.

The UAE had provided $2 billion loan deposits in early 2020 to Pakistan as part of a bailout package to the government of Prime Minister Imran Khan.

Meanwhile, FM Qureshi apprised his counterpart regarding the dangers posed by human rights violations and Indian policies in occupied Kashmir and the region.

The two foreign ministers also deliberated upon other issues, including the Afghan peace process.

Later, Qureshi extended an invitation to Sheikh Abdullah for a visit to Pakistan, which he accepted.

Both officials agreed to enhance bilateral cooperation on international forums.

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