"Friends" agree to offer Pakistan financial assistance

Abu Dhabi  - A group of nations dubbed the "Friends of Pakistan" agreed, in principle, Monday to throw a financial lifeline to Pakistan.

Specific sums to be committed were not named Monday. There will be another meeting of the group in January followed by a ministerial- level meeting in February that should set the specific amounts of assistance to be expected.

Aizaz Ahmed Chaudhry, assistant foreign minister for South Asia Affairs, said the group plans to finance projects geared toward policing and security.

"The Friends of Pakistan" is comprised of 16-nations which include among others Britain, France, Germany, the United States and China plus the United Nations and the European Union. It also includes multilateral financial agencies and world bodies. The meeting was held in Abu Dhabi.

Participants say they regard Pakistan's internal stability as a key to the security and stability of the region. The country's finances have looked increasingly shaky as its foreign reserves dwindled to the point where it could only guarantee payment for a few weeks worth of imports.

The first meeting of the group was held in September on the margins of the UN General Assembly session.

The International Monetary Fund this weekend announced that it would give Pakistan a 7.6-billion-dollar assistance package. (dpa)

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