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.
The global manufacturing activity expanded in July, adding to hopes the sector is emerging from the hit of the coronavirus pandemic.
The UAE, Saudi Arabia and Egypt drew up to 65.4 per cent of the total FDI inflows to the Arab nations in Q1-2020, according to a report released by the Arab Investment & Export Credit Guarantee Corporation (Dhaman)
Sheikh Ahmed Bin Humaid Al Nuaimi, Chairman of the Ajman Free Zone, AFZ, has launched AFZ’s eight new economic incentives for the second half of 2020.
The Dubai Real Estate Institute (DREI), in Dubai Land Department, DLD, is organising the first virtual real estate conference titled ‘Real Estate post-COVID-19 - Challenges and Solutions,’ in cooperation with a number of entities in Saudi Arabia.