UAE extends $200mn aid to Pakistan

The Crown Prince of Abu Dhabi extended an offer of $200 mn to Pakistan to support the Small and Medium Enterprises (SME) projects in South Asian country.

Islamabad: During his day-long trip to Pakistan, Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan extended a $200 million aid to support the Small and Medium Enterprises (SME) projects the South Asian country.

After he arrived in Islamabad on Thursday, the Crown Prince held wide-ranging talks with Prime Minister Imran Khan, focusing on bilateral, regional and international issues, reports The Express Tribune.

At the conclusion of the visit, Sheikh Mohammed bin Zayed, who is also deputy supreme commander of the United Arab Emirates' (UAE) Armed Forces, instructed the Khalifa Fund for Enterprise Development to allocate the $200 million aid.

Sheikh Mohamed bin Zayed becomes the first foreign dignitary to visit Pakistan in 2020.

The visit was seen as significant against the backdrop of recent developments, particularly the Kuala Lumpur Islamic Summit.

Both Saudi Arabia and the UAE expressed reservations over the summit since they viewed the initiative as an attempt to create a new Islamic bloc.

Pakistan pulled out of the summit at the last minute in order to, what it insisted, maintain neutrality in the Muslim world.

Soon after the summit, Saudi Foreign Minister Faisal bin Farhan visited Islamabad to renew Riyadh's commitment to the long term and strategic partnership with Pakistan.