Saudi Arabia has prolonged the time period of its $3 billion deposit positioned with Pakistan for one more yr to assist the nation’s economic system, the State Financial institution of Pakistan (SBP) introduced on Thursday.
In a press release, the central financial institution mentioned: “The Saudi Fund for Growth (SFD) on behalf of the Kingdom of Saudi Arabia has prolonged the time period for the deposit of $3 billion maturing on December 8, 2025, for one more yr.”
The SBP mentioned the contemporary extension of the deposit’s time period would assist strengthen international change reserves and contribute to the nation’s financial development and growth.
The quantity has been positioned with the SBP on behalf of the state, mentioned the central financial institution.
It’s pertinent to say right here that the $3 billion deposit was initially positioned with the SBP in 2021 and subsequently rolled over since then.
The event got here two months after Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman had agreed to launch an “Financial Cooperation Framework” primarily based on the 2 nations’ shared financial pursuits.
Throughout their assembly on the sidelines of the Future Funding Initiative (FII9) convention in Riyadh in October, the leaders had reaffirmed their mutual need to strengthen commerce and funding relations to serve their frequent pursuits.
It’s pertinent to say right here that Pakistan is presently going through financial challenges, together with strain on its international change reserves, rising inflation, and a rising fiscal deficit.
Complete liquid international reserves held by the nation stood at $19.6 billion as of November 21, 2025, the central financial institution had mentioned, including that the online international reserves held by business banks have been recorded at $5.04 billion.
“In the course of the week ended on Nov 21, 2025, SBP’s FX reserves elevated by $9 million to $ 14,560.7 million,” the central financial institution had added.
