Mohamed Bin Zayed in Pakistan: UAE extends $200m aid to Pakistan

Islamabad: His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has instructed the Khalifa Fund for Enterprise Development, Khalifa Fund, to allocate $200 million to support small and medium-sized enterprises, SMEs, in Pakistan.

The initiative aims to encourage innovation in projects and support entrepreneurship, to assist the Pakistani government's efforts to create a stable and balanced national economy that will help achieve the country's sustainable development.

The initiative is also part of the close ties between the UAE and Pakistan and the keenness of their leaderships to strengthen and develop them, reflecting the development witnessed by their overall relations over the past decades.

Shaikh Mohammad's initiative, which was launched on the sidelines of his visit to Pakistan, aims to support economic projects there.