Bankrupt Pak's Loan Economy: UAE extends $3 billion aid to cash-strapped ally

Cash-strapped Pakistan has received fresh financial assistance from 'ally' UAE. Abu Dhabi has pledged a $1 billion loan to the country and also agreed to roll over an existing loan of $2 billion as the country grapples with the economic crisis. This comes after Pak PM held talks with UAE president Sheikh Mohamed bin Zayed Al Nahyan on Thursday on his third visit to the Gulf country after taking office last April.