The State Bank of Pakistan announced on Thursday that the Saudi Fund for Development (SFD), acting on behalf of the Kingdom of Saudi Arabia, had extended the period for the $3 billion deposit that was due on December 5, 2024, by an additional year.
Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammad Bin Salman met during the former’s visit to Riyadh two days ago as part of the “One Water Summit” after this development.
Both leaders had committed to changing the two nations’ economic, trade, and investment ties in a significant way at the summit.
Additionally, they were pleased with the rate of advancement in the execution of Saudi agreements and memorandums of understanding pertaining to investment in Pakistan.
