UAE’s $200mn to be used for Pakistan SMEs

• Hafeez Sheikh says that the announced amount will be spent on small business promotion and jobs.

Advisor to PM on finance and revenue Abdul Hafeez Shaikh has said that allocation of $200 million announced by Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed will be used to support small and medium-sized enterprises in Pakistan.

Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed has announced an allocation of $200 million to support small and medium-sized enterprises in Pakistan, Finance Adviser to PM Abdul Hafeez Shaikh tweeted on Thursday.

“Would like to thank HRH Sheikh Muhammed Bin Zayed Al-Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces for announcing $200mn support to Pakistan after meeting with Prime Minister Imran Khan,” said Sheikh in a tweet.

The advisor informed that the announced amount will be spent on small business promotion and jobs. “This support is testimony to the expanding economic relations and friendship between our countries,” he said.

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The money will be spent on small business promotion and jobs. This support is testimony to the expanding economic relations and friendship between our countries.

— Dr. Abdul Hafeez Shaikh (@a_hafeezshaikh) 2 January 2020

The de facto United Arab Emirates ruler, Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan, instructed the Khalifa Fund for Enterprise Development to allocate $200 million to support small and medium economic projects in Pakistan, during his one-day visit to Pakistan on Thursday.

The Crown Prince met Prime Minister Imran Khan, and the two discussed “regional and international issues of mutual interest as well as ways to enhance bilateral ties," according to Sheikh Mohammed's tweet.