Saudi Arabia To Provide $4.2 Billion Finacial Aid To Pakistan

Pakistan gets $4.2 billion lifeline from Saudi Arabia, a day after Prime Minister Imran returned from the three-day visit to the Kingdom , attending the Middle East Green Initiative of the Saudi Crown Prince.

The Saudi financial package includes a $3 billion cash assistance and $1.2 billion worth of oil supply on deferred payments, according to the Saudi Press Agency.

"The Saudi Fund for Development in a 'generous gesture' announced a deposit of $3 billion with the State Bank of Pakistan to help the government support its foreign currency reserves and counter the impact of the Corona pandemic. The SPA reported that the deposit was in addition, to an oil deferred payment facility of $1.2 billion for petroleum products, during the year," the SPA said in a statement.

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