Saudi Arabia Plans $10 Billion Investment with Pakistan
- Publish date: Wednesday، 11 January 2023
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As a step toward providing additional support to Pakistan's economy, which is reeling from devastating floods, Saudi Arabia's Crown Prince Mohammed bin Salman has directed an investigation to increase the kingdom's assistance and investments in Pakistan.
According to the state-run Saudi Press Agency, the Saudi Fund for Development would examine raising the deposit at Pakistan's central bank from $3 billion to $5 billion. It will also evaluate the proposal to raise investments in Pakistan to $10 billion according to the same report.
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Another $3 billion loan at 4% for a year was given to Pakistan by Saudi Arabia last month. At a press conference last month, Saudi Finance Minister Mohammed Al Jadaan stated that the Saudi government will "continue to support Pakistan as much as we can."
The Kingdom's position supporting Pakistan's economy and people is reaffirmed by Prince Mohammed's directive, the Saudi Press Agency reported early on Tuesday.
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