Saudi Arabia, Pakistan to discuss possible support for KSA’s $3 billion deposit

Saudi Arabia and Pakistan will discuss the possibility of supporting the Kingdom's $3 billion deposit in Pakistan's central bank by extending its term or through other options, a joint statement between the two countries said on Sunday.

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According to the joint statement, Pakistan welcomed Saudi Arabia’s decision to extend an agreement to finance exports of crude oil products and oil derivatives.

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The statement came after a visit by new Pakistani Prime Minister Shehbaz Sharif to Saudi Arabia, where he met with Crown Prince Mohammed bin Salman.

Last year, Saudi Arabia deposited $3 billion in Pakistan's central bank to help support its foreign reserves.