The Qatar Investment Authority has announced that it aims to invest $3 billion in Pakistan's renewable energy, power and hospitality sectors. Lending support to the South Asian nation's cash-strapped economy. Pakistan is in economic turmoil and faces a balance of payments crisis, with foreign reserves having dropped as low as $7.8 billion.
The announcement follows a visit to Doha from Pakistan Prime Minister Shehbaz Sharif, who held official talks with Qatari Emir Sheikh Tamim bin Hamad al-Thani. Sharif's visit to Qatar comes ahead of an International Monetary Fund meeting next week that is expected to approve more than $1 billion in financing.