Saudi Arabia Supports Economy of Pakistan with US$3 Billion Deposit

Tuesday 1443/3/20 - 2021/10/26
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Riyadh, Oct 26, 2021, SPA -- The Saudi Fund for Development (SFD) announced the issuance of the Royal Directive to deposit an amount worth of US$3 billion into the State Bank of Pakistan to help the Pakistani government support its foreign currency reserves and support it in facing the impacts of the coronavirus pandemic.
The SFD added that, in addition, the royal directive was issued to finance the oil derivatives trade with a total amount of US$1.2 billion throughout the year.
It pointed out that these royal directives confirm the Kingdom of Saudi Arabia's ongoing stance in supporting the economy of the sisterly Republic of Pakistan.
23:16 LOCAL TIME 20:16 GMT