Saudi Arabia Extends $3 Billion Financial Support Facility For Pakistan

Business Standard · business

Saudi Arabia has extended its USD 3 billion financing facility for Pakistan for a "reasonable period," according to Finance Minister Muhammad Aurangzeb. This facility was initially provided in April for three months to help Pakistan repay a USD 3.5 billion debt to the UAE. The minister also confirmed that another USD 5 billion provided by Saudi Arabia has been extended until 2028. He denied seeking additional support, stating that foreign exchange reserves are sufficient and expected to strengthen further.