ISLAMABAD: The State Bank of Pakistan (SBP) today received mach-awaited $3 billion from Saudi Arabia under a support package signed between Pakistan and the kingdom. Pakistan will pay four percent markup in a year on this Saudi government’s cash/loan support.
Adviser to the Prime Minister on Finance Shaukat Tarin disclosed that Kingdom of Saudi Arabia today deposited the loan amount with the State Bank of Pakistan.
Tarin said, “Good news, US$3 billion Saudi deposit received by SBP,” thanking Saudi Crown Prince Mohammed Bin Salman and the kingdom for the “kind gesture”.
A few days ago Pakistan and Saudi Arabia signed an agreement for the disbursement of this Saudi assistance. Saudi Arabia announced over $4 billion cash and oil on deferred payment for Pakistan when Prime Minister Imran Khan visited KSA a couple of months back.
