The finance ministry has said that it is “confident” that the United Arab Emirates (UAE) will rollover the $1 billion loan that matured on Friday, quelling reports that Dubai had withdrawn the financial support. “Pakistan and the UAE are great friends and we are confident of a rollover”, Finance Secretary Kamran Ali Afzal said, while responding to a query whether the UAE extended $1 billion support for one more year. A senior ministry official said that the money was not going back and the UAE has informed Pakistan that it would rollover the $1 billion. Read: PM, Abu Dhabi crown prince speak over phoneOut of the committed $6.2 billion, the UAE disbursed $2 billion. Pakistan had returned the Saudi loan by securing three different financing pipelines from China.

Source: The Express Tribune March 13, 2021 06:45 UTC