Saudi Arabia rolls over $3bn deposit support for Pakistan

Rollover will contribute to country’s economic growth and development, says central bank

ISLAMABAD: Saudi Arabia has extended the term of its $3 billion deposit placed with Pakistan for another year to support the country’s economy, the State Bank of Pakistan (SBP) announced on Thursday.

In a statement, the central bank said: “The Saudi Fund for Development (SFD) on behalf of the Kingdom of Saudi Arabia has extended the term for the deposit of $3 billion maturing on December 8, 2025, for another year.”
The SBP said the fresh extension of the deposit’s term would help strengthen foreign exchange reserves and contribute to the country’s economic growth and development. Business Desk