Saudi Arabia decides to help Pakistan in paying back $16 billion debt

Saudi Arabia has decided to provide financial help to Pakistan as the country faces a massive challenge of returning the debt of $16 billion in the next six months. During an interview with the American Magazine Bloomberg, Finance Minister of Saudi Arabia Mohammad Al-Jadaan pledged to provide every possible assistance to Pakistan.

He added that Saudi Crown Prine Mohammad bin Salman was determined to make long-term investments in the energy sector and wanted to help Pakistan so it could meet its financial needs.

Earlier, Saudi Arabia extended $3 billion deposit term in the State Bank of Pakistan. Saudi finance minister’s statement came after Pakistan requested $4.2 billion in assistance to uplift the foreign exchange reserves. Saudi Arabia has also decided to help Egypt and Turkey to fight inflation through multiple investment plans.

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