The Saudi Fund for Development has extended a deposit of $3 billion to the Central Bank of Pakistan. This is in implementation of the directives of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and HRH Crown Prince Mohammad bin Salman bin Abdulaziz.
The extension of the deposit is a continuation of the support provided by the Saudi government to Pakistan. It aimed to support foreign currency reserves in the bank, and help Islamabad face the economic repercussions of the “Covid-19” pandemic. It also contributed to facing external challenges in various sectors and enabled Pakistan to achieve sustainable economic growth.
The deposit agreement was signed between the fund and the bank in November 2021. This was after Saudi Arabia’s directives were issued. This reflects the long-standing close relationship between the two countries.
Saudi Arabia is providing unlimited support to Pakistan, on a recent basis, Saudi KSRelief distributed 2,110 winter bags in the Gilgit-Baltistan region of Pakistan in Naqr, Ghazar, Astor, Ghanchi, and Skardu.
14,770 needy people in the Islamic Republic of Pakistan have benefited from these bags.
This comes within the framework of the humanitarian and relief aid that the Saudi Kingdom provides through the center to countries and people in need in various countries of the world.
KSRelief is a Saudi center dedicated to international relief and humanitarian work. It was established on May 16, 2015, under the directives of King Salman.
The Saudi center coordinates with international organizations and bodies, intending to assist the needy around the world.
The Saudi center implemented several humanitarian programs and initiatives to deliver relief aid to beneficiaries worldwide.
More than 37 countries around the world have benefited from the humanitarian, relief, and development assistance provided by the Center in cooperation with several international and regional partners.