Saudi Arabia has extended its US$3 billion deposit for Pakistan after the Saudi Development Fund approved a one-year rollover, officials said on Thursday.
The deposit, currently held by the State Bank of Pakistan (SBP), was first provided in 2021 under an agreement aimed at supporting Pakistan’s external account.
Sources said the Saudi Fund for Development granted an additional year for the deposit, which was originally scheduled to mature on Thursday.
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Earlier, Saudi Arabia deferred repayment of a separate $3 billion loan with the State Bank of Pakistan by one year.
This move provided additional relief to Pakistan’s economy in 2024, easing financial pressure and supporting its external accounts.
