Prime Minister Shehbaz Sharif and Saudi Fund for Development (SFD) CEO Sultan Abdulrahman Al-Marshad oversaw the signing of two agreements worth $1.61 billion on Monday.
The agreements include a $1.20 billion deferred oil payment facility from Saudi Arabia for one year and a $41 million concessional loan for a gravity-flow water supply scheme in Mansehra.
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Dr. Kazim Niaz, Secretary of Economic Affairs Division, and Sultan Abdulrahman Al-Marshad signed the agreements on behalf of their respective governments, with federal ministers, officials, and Saudi Ambassador Nawaf bin Said Al-Malki in attendance.
The oil payment facility will bolster Pakistan’s economic stability, while the water project will provide clean drinking water to over 150,000 residents in Mansehra, improving public health and meeting future water demands until 2040.
