Through its branches in Bahrain and the United Arab Emirates, United Bank Limited (UBL) has arranged and funded a short-term loan of USD 300 million for the Government of Pakistan, the bank announced.
With more than USD 2.4 billion in foreign assets, UBL has one of the biggest global presences of any Pakistani bank. This agreement reinforces UBL’s capacity to provide clients in Pakistan and overseas with dependable and seamless solutions. UBL has a proven track record of carrying out intricate and valuable transactions with success.
In keeping with pledges to the International Monetary Fund (IMF), this deal helps Pakistan meet its external funding needs.
“UBL is dedicated to upholding the highest standards of service and innovation and is committed to playing a role as a trusted partner in fostering sustainable economic progress as Pakistan continues to improve its economic outlook,” the statement continued.
This commercial debt was acquired by the federal government at an interest rate of 7.2–7.7 percent.
