Pakistan receives $1bn from UAE

• Following the fresh financial assistance, Pakistan's foreign exchange reserves have crossed $15.9bn mark

KARACHI: The State Bank of Pakistan (SBP) on Tuesday received $1 billion from the United Arab Emirates (UAE).

"So far, we have received $2 billion in total from the UAE," an SBP spokesperson confirmed, adding that in January this year, Pakistan and the UAE had signed an agreement with regard to $3 billion support package.

Finance Division spokesman Khaqan Hassan Najeeb said the financial assistance from the UAE would further help Pakistan address its balance of payment issue.

Following the fresh financial assistance, Pakistan's foreign exchange reserves have crossed $15.95 billion mark.