KSA and UAE confirm $3 billion in financial support to Pakistan

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Pakistani Authorities hopeful for additional deposits from KSA After Eid ul Fitr as the struggling economy of Pakistan seeks external financing to shore up its foreign exchange reserves, Pakistani authorities have expressed hope that an additional $2 billion deposit from the Kingdom of Saudi Arabia (KSA) will be signed after Eid ul Fitr.

The State Bank of Pakistan is expected to sign the deal with the Saudi Fund for Development (SFD) soon after the Eid. The KSA has confirmed bilateral assistance support to the International Monetary Fund (IMF), which has been acknowledged by the lender’s staff.

Sources clarified that Pakistan has not made any fresh requests for more support from the KSA or the UAE, except for the already confirmed $2 billion and $1 billion by these countries, respectively.

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