VOL. XXXIX

No. 63

9-December-1996

UAE

UAE To Lend Pakistan $500Mn

The UAE has agreed to extend to Pakistan a $500mn soft loan, the Deputy Chairman of Pakistan's Planning Committee, Mr. Hafeez Pasha, announced last week. Mr. Pasha said that the loan would carry an interest rate significantly less than the market levels and that disbursement was likely to begin very soon. The maturity date for the loan has yet to be finalized.