The Kingdom of Saudi Arabia (KSA) announces to provide financial aid to Pakistan.
The Saudi Fund for Development (SFD) announced the issuance of the generous directive to deposit. Sources have revealed that an amount of 3 billion USD will be submitted to the Central Bank of Pakistan.
KSA aims to help the Government of Pakistan to support its foreign currency reserves and support it in facing the repercussions of the COVID-19 pandemic.
The SFD has added that, in addition, the generous directive was issued to finance the oil derivatives trade with a total amount of one billion and two hundred million dollars during the year.
As per the reports, the Fund has also indicated that these generous directives confirm the KSA’s continued position in supporting the economy of the ally, the Islamic Republic of Pakistan.
The news was broken by the Federal Minister for Information and Broadcasting of Pakistan on twitter.
https://twitter.com/fawadchaudhry/status/1453079018761228288
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