Pakistan, Saudi Arabia sign agreement to extend $3bn deposit

Pakistan and Saudi Arabia on Friday signed an agreement to extend a $3 billion deposit from the Saudi Fund for Development (SFD).

Saudi Arabia, earlier this week, pledged an additional $3 billion in deposits for Pakistan and extended its existing $5bn facility for a further three years.

“The agreement, signed between the Saudi Fund for Development (SFD) and the State Bank of Pakistan (SBP), provides for the extension in the maturity of a USD 3 billion deposit placed by SFD with the State Bank of Pakistan,” said a post on X by the Ministry of Finance.

The ministry said that the agreement was signed between SBP Governor Jameel Ahmed and Chief Executive Officer of the SFD Sultan bin Abdulrahman Al-Marshad.

Minister for Finance and Muhammad Aurangzeb witnessed the signing of an important financial agreement in Washington, D.C., in the presence of Pakistan’s ambassador to the United States.

The development took place on the sidelines of the World Bank-IMF Spring Meetings 2026.

More to follow