Economic revival efforts: UBL arranges $300m loan via UAE, Bahrain branches

KARACHI: United Bank Limited (UBL), through its UAE and Bahrain branches, has successfully arranged and financed a $300 million short-term loan for the Government of Pakistan, providing crucial support to bolster the country’s economic revival efforts.

This significant financial initiative underscores UBL’s commitment to support Pakistan’s economic growth and stability.

UBL boasts one of the largest international footprints amongst Pakistani banks, with its international assets exceeding $2.4 billion.

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According to an announcement, this deal reaffirms UBL’s ability to offer clients seamless and reliable solutions, both in Pakistan and abroad. UBL enjoys a strong track record of successfully executing complex and high-value transactions.

This loan transaction supports Pakistan’s external financing needs, in-line with commitments to the International Monetary Fund (IMF).

As Pakistan continues to improve its economic outlook, UBL says that it is committed to play a role as a trusted partner in fostering sustainable economic progress and dedicated to maintaining the highest standards of service and innovation.

Copyright Business Recorder, 2024