Saudi Arabia raises its investment in Pakistan to $10 billion

The Saudi Press Agency (SPA) reported on Tuesday that the Kingdom may raise its investments in the Pakistani economy, which suffers from a lack of liquidity to $ 10 billion, in addition to raising the ceiling of its deposits in the Central Bank of Pakistan to $ 5 billion.

 

HRH Saudi Crown Prince Mohammed Bin Salman directed to start off a study to increase Saudi investments from a billion dollars to ten billion dollars.

The prince also asked the Saudi Fund for Development to increase the ceiling for Saudi deposits in Pakistan’s central bank as part of measures to support the struggling economy.

Last month, Saudi Arabia extended the term of a $3 billion deposit it had deposited with the Central Bank of Pakistan in 2021.

International donors, including Saudi Arabia, pledged more than $9 billion to help Pakistan recover from last year’s devastating floods.

This was at a meeting in Geneva organized by the UN and the Pakistani government.

Pakistani Prime Minister Shehbaz Sharif seeks closer economic relations with the Gulf States to ensure more investments.