SBP receives $1 billion from Saudi Arabia as part of a financial support package aimed at strengthening Pakistan’s economy. The latest inflow marks the second tranche of a $3 billion deposit agreed between the two countries.
According to the central bank, the amount was credited on April 20, completing the transfer of the full $3 billion. Earlier, Pakistan had already received $2 billion just days before, bringing total inflows under this arrangement to the agreed level.
This development came soon after Shehbaz Sharif visited Saudi Arabia, where he held talks with Mohammed bin Salman in Jeddah. During the meeting, he thanked the Kingdom for its continued financial support and reaffirmed strong bilateral ties.
Finance Minister Muhammad Aurangzeb had earlier confirmed that Saudi Arabia would extend additional financial help to Pakistan. He also shared that the Kingdom has extended the duration of its existing $5 billion deposit, easing pressure on Pakistan’s external finances.
SBP receives $1 billion from Saudi Arabia at a time when the country is managing its external obligations. Recently, Pakistan repaid $2 billion to the United Arab Emirates, which had been placed with the central bank as a deposit.
The fresh inflows are expected to support foreign reserves and improve overall economic stability. Saudi Arabia has remained a key partner for Pakistan, offering financial assistance during difficult periods, including past support packages that helped stabilize the economy.
With this latest development, SBP receives $1 billion from Saudi Arabia as part of ongoing efforts to maintain financial balance and strengthen confidence in the country’s economy.
