Tuesday May 24, 2022

KSA Finalizing Extension of $3 Bn Deposit To Pakistan: Minister

DAVOS: Saudi Arabia is finalising the extension of the kingdom’s $3 billion deposit to Pakistan, Saudi Minister of Finance Mohammed al-Jadaan told Internatinoal media.

“We are currently finalising extending the $3 billion deposit to Pakistan,” he said on the sidelines of the World Economic Forum in Davos.

Last year, Saudi Arabia deposited $3 billion in Pakistan’s central bank to help support its foreign reserves.

Jadaan did not offer further details, but on May 1 the two countries said in a joint statement that they would discuss the possibility of supporting the deposit by extending its term “or through other options.”

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