ISLAMABAD: In another major breakthrough, the United Arab Emirates also deposited 1 billion dollars to the State Bank of Pakistan (SBP) on Wednesday.
Finance Minister Ishaq Dar announced that the United Arab Emirates has deposited $1 billion to the State Bank of Pakistan (SBP), saying that it would boost the country’s reserves.
“Yesterday, Saudi Arabia deposited $ 2 billion. Alhamdulillah, the SBP’s forex reserves have been boosted by $3b in the last two days,” he said.
“I extend our heartfelt thanks to the leadership of United Arab Emirates for their great gesture and support by placing a said deposit of $1 billion with State Bank of Pakistan!” he added in a tweet.
In a tweet, Prime Minister Shehbaz Sharif also thanked the UAE president, Sheikh Mohamed Bin Zayed, for the $1b deposit.
“As a time-tested friend and brotherly country, the UAE has always come forward to support Pakistan. We deeply acknowledge this kind gesture and consider it critical to our efforts to stabilise the economy,” he added.