Abu Dhabi announces $200m for SMEs

ISLAMABAD: Abu Dhabi Crown Prince Sheik Mohamed bin Zayed announced a $200 million grant to support small and medium-sized enterprises in Pakistan, Finance Adviser to PM Abdul Hafeez Shaikh tweeted on Thursday.

1/2)
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
$200 Million support to Pakistan after meeting with Prime Minister Imran Khan. https://t.co/cbZRd7l6Zz

— PTI Development & Economy (@PTIDevEcon) January 2, 2020

The adviser said “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.”

The Crown Prince directed the Khalifa Enterprise Development Fund to release the sum to assist the efforts of the Pakistani government to create a prosperous and balanced national economy that will help achieve sustainable development in the region.

The announcement highlighted the launch of the initiative on the sidelines of Crown Prince’s visit to Pakistan to support the country’s economic ventures.