Friday 3 December 2021

Saudi Arabia supports Pakistan economy with $3bn deposit

RIYADH, October 27, 2021

The Saudi Fund for Development (SFD) has announced the issuance of a Royal Directive to deposit $3 billion into the State Bank of Pakistan to help the Pakistani government support its foreign currency reserves and help it in facing the impacts of the coronavirus pandemic.
The SFD added that, in addition, a royal directive was issued to finance the oil derivatives trade with a total amount of $1.2 billion throughout the year, said a Saudi Press Agency report.
It pointed out that these royal directives confirm Saudi Arabia's ongoing stance in supporting the economy of Pakistan.


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