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.
Egypt will remove subsidies on most energy products by June 15, it told the International Monetary Fund in a January letter released by the IMF on Saturday as part of a review of Cairo’s three-year, $12 billion loan programme with the lender.
Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, has launched the fifth cycle of the Dubai Smartpreneur Competition, which is open to startups offering solutions related to the Expo 2020 Dubai
Hawkamah, The Institute for Corporate Governance and the International Monetary Fund (IMF) convened the sixth high-level Central Bank Governance Forum 2020 in Dubai on Jan.21-23, 2020.
A review of the World Logistics Passport initiative, which was recently launched by the UAE, took place on the sidelines of the 50th World Economic Forum in Davos, Switzerland.