Abu Dhabi announces $200m for SMEs

The Newspaper's Staff Reporter Published January 3, 2020

Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed has announced an allocation of $200 million to support small and medium-sized enterprises in Pakistan, Finance Adviser to PM Abdul Hafeez Shaikh tweeted on Thursday. — DawnNewsTV/File

ISLAMABAD: Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed has announced an allocation of $200 million to support small and medium-sized enterprises in Pakistan, Finance Adviser to PM Abdul Hafeez Shaikh tweeted on Thursday.

The adviser said “the money will be spent on small business promotion and jobs. This support is testimony to the expanding economic relations and friendship between our countries.”

The crown prince directed the Khalifa Fund for Enterprise Development to release the amount in order 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 announcement highlighted that the initiative was launched on the sidelines of Crown Prince’s visit to Pakistan which aims to support economic projects in the country.

Published in Dawn, January 3rd, 2020

Follow Dawn Business on X, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Pak UAE Ties

Business

Results of government's difficult decisions now showing, says Hafeez Sheikh

Abu Dhabi crown prince, PM Imran discuss 'ways to enhance bilateral ties'

UAE minister discusses ties with PM, president

Jan 03, 2020 08:10am

China should release cpec funds asap

Recommend 0

Pakistani

Jan 03, 2020 08:18am

WOW!!!! I am at the shock. Where are you guys going to deposit all that money? 200 Million. Must open a new bank

Recommend 0

Kareem

Jan 03, 2020 08:26am

Great work IK! This 200 billion investment must be utilized in education.

Recommend 0

Neal

Jan 03, 2020 08:59am

@Kareem, million not billion

Recommend 0

Murtaza

Jan 03, 2020 09:04am

Sorry but this is peanuts for any economy..

Recommend 0

Kate Angel Dinara

Jan 03, 2020 09:34am

@Kareem, 200 billions !!!!

Recommend 0

Kate Angel Dinara

Jan 03, 2020 09:35am

@Murtaza, don't depend on others .. Make your economy stronger.. Earn by yourself.. otherwise there will be no respect in international community...

Recommend 0

Ismail khan

Jan 03, 2020 10:16am

Not even peanuts 200 million

Recommend 0

Shahid Mahmood

Jan 03, 2020 10:17am

@Murtaza, It is a goodwill gesture or in clear words a price for skipping Malaysian summet.

Recommend 0

Anil Goel

Jan 03, 2020 10:18am

Corrupt politicians will pocket most of it...

Recommend 0

Pallab Saha

Jan 03, 2020 10:34am

$75 billion investment in India, while $200 million for Pakistan. Do we need to say more?

Recommend 0

bkt

Jan 03, 2020 11:46am

@Kareem, Its for SMEs -- i.e. for business - not the business of education

Recommend 0

rehan

Jan 03, 2020 11:59am

under what condition???

Recommend 0

Nizamuddin Ahmad Aali

Jan 03, 2020 12:01pm

I bet all the money will land in Lahore & Islamabad, given to the youngster who have great minds a they know how to multiply in exponential rate. Who knows they will be owning hundreds of sugar mills and fancy properties in European American cities.

Recommend 0

citizen

Jan 03, 2020 12:14pm

How long our republic depend on aids,doles,alms and financial assistance ? Our neighbour though dirt poor never goes for doles and 'financial assistance'...

Recommend 0

UMAIR

Jan 03, 2020 12:32pm

Good for Pakistan.

Recommend 0

Ishrat salim

Jan 03, 2020 02:01pm

@Kareem, million, please read carefully.

Recommend 0

Asif khan

Jan 03, 2020 02:10pm

Will Pakistan have to return it in future?

Recommend 0

yusuf

Jan 03, 2020 02:29pm

@Kareem, - I fully agree with your suggestion of using all that money for education, which is the dire need of the country. BTW the amount is 200 million, not billion!

Recommend 0

yusuf

Jan 03, 2020 02:32pm

@Murtaza, - Why are you looking 'a gift hose in the mouth'!

Recommend 0

Ahmad

Jan 03, 2020 02:33pm

Doesn't mention what kind of support this is. It's peanuts for letting go of the KL summit. .

Recommend 0

yusuf

Jan 03, 2020 02:35pm

@Anil Goel, - Not to worry, they don't have hands that long to reach out from the jails!

Recommend 0

yusuf

Jan 03, 2020 02:39pm

@Shahid Mahmood, It is remarkable to see the number of dissatisfied Pakistanis that read the Dawn!

Recommend 0

yusuf

Jan 03, 2020 02:40pm

@rehan, What good will it do for you to know!!!

Recommend 0

Dr. Salaria, Aamir Ahmad

Jan 03, 2020 03:46pm

Thank you Crown Prince of Abu Dhabi-U.A.E., for your great generosity, friendship, support and cooperation for the fertile land and talented people of the Islamic Republic of Pakistan.

Recommend 0

LAHORI KID

Jan 03, 2020 04:46pm

Creating jobs comes from building businesses, Pakistan should be leading the way, why allow China to bring all their assets to Pakistan, let’s not turn Pakistan into a mini China.

Recommend 0

Syed Hafeez Imran

Jan 03, 2020 06:31pm

@Kareem, my friend it is MIllion and NOT Billion! A VERY BIG difference

Recommend 0

Gaffer

Jan 03, 2020 07:34pm

Not a singe cents will be use on poor pakistani all will go in the belly of corruption

Recommend 0

Enlightened One

Jan 03, 2020 09:41pm

Here's a suggestion: start trade schools in every village in Pakistan for boys, girls, men, and women. Carpentry, plumbing, bricklayering, auto repair, electrician, riad construction, agriculture, animal husbandry etc should be taught to all. Then give the successful graduates small seed money to help them establish their trades business.

Recommend 0