ISLAMABAD: Pakistan has received $1 billion loan from Unite Arab Emirates, State Bank of Pakistan has confirmed.

The money has been transferred to State Bank of Pakistan (SBP) account, SBP said in its Twitter post.



Pakistan and United Arab Emirates had signed an agreement to grant $3 billion loan to Islamabad.

The agreement for $3 billion loan was signed by Governor State Bank of Pakistan Tariq Bajwa and Chairman Abu Dhabi Development Fund.

As per the accord, UAE will transfer $1 billion to Pakistan within a few days while the remaining $2 billion will be handed over in two installments in two weeks.