Saudi Arabia pledges $3bn aid to Pakistan
Saudi Arabia is providing Pakistan with $3 billion in financial support, a pledge first made by Crown Prince Mohammed bin Salman. The funds are being deposited directly into the State Bank of Pakistan to bolster the country's foreign exchange reserves. This move comes as Pakistan's Prime Minister Shehbaz Sharif prepares for a diplomatic tour of the region, including Saudi Arabia. The aid is a critical lifeline for Pakistan's struggling economy.
The incoming message adds the specific context that the Saudi aid is arriving as Pakistan prepares to repay a $3.5 billion loan to the UAE.
The funds are expected to arrive within a week and will be used to help offset a $3 billion loan repayment to the United Arab Emirates.
The message confirms the funds are being deposited into the State Bank of Pakistan, a specific detail of the aid's implementation.
