UAE confirms to IMF support of $1 bln to Pakistan - finance minister

The United Arab Emirates has confirmed to the International Monetary Fund that it will provide support of $1 billion to Pakistan, the South Asian country's finance minister said on Friday.

The commitment is one of the requirements that the fund has said it needs to move ahead on a months-long delayed bailout package to shore up the country's struggling economy.

"State Bank of Pakistan is now engaged for needful documentation for taking the said deposit from UAE authorities," Pakistan Finance Minister Ishaq Dar said on Twitter.

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