UBL arranges $300m loan for Pakistan

Amid the growing need for financing to meet external debt repayment obligations, the government has arranged a $300 million loan from United Bank Ltd (UBL). According to a press release issued on Monday, UBL had arranged and financed a $300m short-term loan for the government of Pakistan through its UAE and Bahrain branches. While the government is trying to arrange more financing for its debt servicing during the current fiscal year, it struggles to roll over the debt from China and other countries. UBL has one of the largest international presences among Pakistani banks, with international assets exceeding $2.4 billion. The bank said the deal shows the ability of UBL to offer clients seamless and reliable solutions, both in Pakistan and abroad. UBL enjoys a strong track record of successfully executing complex and high-value transactions.