[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]The State Bank of Pakistan announced on Wednesday that the Saudi Fund for Development (SFD) has prolonged the term of the $3 billion deposit, originally maturing on December 05, 2023, for an additional one year.
This deposit, on behalf of Saudi Arabia, is held with the central bank of Pakistan. The extension of the deposit term is a continuation of the Kingdom’s support, aiming to sustain Pakistan’s foreign currency reserves and contribute to the country’s economic growth.
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It’s important to highlight that the initial $3 billion deposit agreement was signed in 2021 through the SFD with the State Bank of Pakistan. Subsequently, it was rolled over in 2022 following royal directives, demonstrating the ongoing strong relationship between the two brotherly countries.[/vc_column_text][/vc_column][/vc_row]
