The ADFD on January 22 agreed to provide $3 billion to Pakistan in three instalments, reports Dawn news.
"The SBP has received $1 billion from the UAE today," the bank's spokesman Abid Qamar told the media here on Thursday.
Prior to this, Pakistan had approached China and Saudi Arabia for funds to avoid a balance of payments crisis.
The country's current account deficit rose to $7.9 billion in the first half of the current fiscal year and is likely to reach $16-18 billion by June 30.
Finance Minister Asad Umar, while presenting the mini-budget in Parliament on Wednesday, said that the government may also enter into an International Monetary Fund-led programme.
He also said that the government was not in a hurry as it was considering other options including bilateral support.
The government signed a similar deal of $3 billion with Saudi Arabia earlier and the kingdom has so far placed $2 billion in the SBP account whereas the last tranche of $1 billion is expected in February, Dawn news said.
Saudi Arabia also agreed to supply $3 billion oil on deferred payments.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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