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Saudi Arabia deposits $3 billion in Egypt’s central bank

Saudi Arabia deposits $3 billion in Egypt's central bank

The Saudi Ministry of Finance said that it has recently deposited $3 billion in the Central Bank of Egypt, SPA reported.

Saudi Arabia has also extended previous deposits by $2.3 billion.

Saudi Finance said in a statement that the kingdom is “using all available instruments to help deal with the repercussions of the Covid-19 outbreak,” including foreign exchange support.

Saudi extends support to Pakistan central bank

In the same context, it indicated that it had provided a deposit of $3 billion to the Central Bank of Pakistan.

It also provided $1.2 billion in trade finance to support Pakistan’s balance of payments.

According to the ministry, the $9.5 billion in external facilities are equivalent to almost 70% of the special drawing rights recently given to the Kingdom by the International Monetary Fund.

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