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Abu Dhabi fund allocates $3 bln deposit to Pakistan’s central bank

Published: Updated:

The Abu Dhabi Fund for Development has allocated $3 billion to Pakistan through a deposit into the country’s central bank, the fund said on Tuesday.

Pakistan is battling to bring under control a gaping current account deficit that has hurt its economy and lowered growth.

The deposit was announced in December. It is aimed at supporting Pakistan’s economic growth and helping it achieve its monetary policy targets.