Islamabad: Pakistan once again has gotten relief from brotherly country Saudi Arabia as the key gulf state, Saudi Fund for Development (SFD) extended its deposits in Pakistan a sum of three billion dollars by one more year.
According to State Bank of Pakistan, the term of Saudi Arabia’s three billion dollars is going to expire on December 5 of the current year.
After the decision of Saudi Fund for Development (SFD), the three billion dollars are the part of the Pakistan foreign reserves.
Saudi Fund for Development (SFD) has confirmed rollover of $3bn deposit maturing on 5Dec22 for one year. Deposit is placed with SBP and is part of its forex reserves. This reflects continuing strong and special relationship between KSA and Pakistan. Old PR https://t.co/YvQ9VXPq0x— SBP (@StateBank_Pak) September 18, 2022
According to the press release of the SBP, the extension of deposit term by the SFD is a reflective of Pakistan and Saudi Arabia strong special relations.