The Saudi Fund for Development, acting on behalf of the Kingdom of Saudi Arabia, has extended the three-billion dollar deposit’s maturity date by one year, to December 5, 2024.
The specified sum is now in the custody of the State Bank of Pakistan.
The extension of the deposit period is an extension of the assistance that the Kingdom of Saudi Arabia has been giving to Pakistan, which will help to bolster the nation’s foreign exchange reserves and boost its economic development.
The USD 3 billion deposit agreement was first signed with SFD in 2021 and then extended in 2022 and 2023 following the royal directions that demonstrate the two brotherly nations’ continued strong ties.
