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.
In a tweet Adviser to Prime Minister on Revenue and Economic Affairs Dr. Abdul Hafeez Shaikh said “the money will be spent on small business promotion and jobs. This support is testimony to the expanding economic relations and friendship between two countries.”
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.
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