According to ministry of foreign affairs the Saudi Development Fund will finance projects worth $500 million in Pakistan.
Pakistan and Saudi Arabia have agreed to give strategic direction to their ties through the Saudi-Pakistan Supreme Coordination Council (SP-SCC) by strengthening and diversifying existing bilateral cooperation in different fields.
The projects to be launched under this initiative will pertain to the sectors of energy, hydropower generation, infrastructure, transport, communication and water resource development.
The SP-SCC, which will be co-chaired by Saudi Crown Prince Mohammad bin Salman and Prime Minister Imran Khan, was established after the two leaders signed an agreement in this regard late on Friday night shortly after the arrival of Mr Khan in the kingdom on a three-day official visit.
