Riyadh : Saudi Arabia has pledged an additional $3 billion deposit to Pakistan to help strengthen the country’s foreign exchange reserves, according to an official statement released on Tuesday.
Pakistan’s Ministry of Finance said that Finance Minister Muhammad Aurangzeb was informed about the support, noting that the funds are expected to be disbursed next week.
The minister, who is currently in Washington attending meetings of the International Monetary Fund, also confirmed that an existing Saudi deposit of $5 billion will be extended for an unspecified period, providing further financial stability to Pakistan.
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The latest financial assistance highlights ongoing economic cooperation between Saudi Arabia and Pakistan, particularly at a time when Islamabad is working to strengthen its external financial position.
Meanwhile, Pakistan’s Ministry of Foreign Affairs announced that Prime Minister Shehbaz Sharif is scheduled to visit Saudi Arabia, Qatar, and Turkey from April 15 to April 18.