The International Monetary Fund Executive board approved a three-year, $6 billion loan package for Pakistan on Wednesday.
The tranches were fully subscribed by a syndicate of leading UAE banks, the government statement said.
The Asian Development Bank (ADB) approved $1 billion in immediate budget support to Pakistan to shore up the country’s public finances and help strengthen economy besides approving $300 million to support energy sector reforms.
The International Monetary Fund on Friday approved Egypt’s request for a $5.2 billion loan as the country’s economy reels from the financial fallout of the coronavirus pandemic.
Emirates SkyCargo has announced that it is stepping up its readiness to handle the logistical complexities of distributing a potential COVID-19 vaccine globally by creating the world’s first dedicated airside cargo hub for the vaccine in Dubai.
World shares slipped to a two-week low and oil steadied after another heavy fall on Thursday, as the global surge in COVID-19 cases and fractious US stimulus talks kept financial markets cautious.
Chairman of the Abu Dhabi Department of Energy Awaidha Murshed Al Marar has said that the department is implementing the directives and visions of the UAE’s leadership to enhance the stature of Abu Dhabi
Mariam Bint Mohammed Saeed Hareb Al Mheiri, UAE Minister of State for Food Security, and Brazil’s Minister of Agriculture, Livestock and Supply, Tereza Cristina, kicked off the third day of the Brazil-Arab Countries Economic Forum.