Two agreements worth $4.2bn signed between Pak and SFD

Two agreements are signed between Pakistan and Saudi Fund for Development, worth $4.2 billion, to support Pakistan's economy.

The Saudi Fund for Development on Monday signed two agreements worth $4.2 billion with Pakistan. The deals aim to support the Pakistani economy.

The first agreement includes a $ 3 billion deposit to the State Bank of Pakistan to support the country’s foreign currency reserve levels and mitigate the impact of the coronavirus disease pandemic. The second deal seeks to support Pakistan in financing oil derivatives trade with $1.2 billion.