Pakistan Receives $1 Billion from Saudi Arabia as Part of $3 Billion Deposit

Pakistan has received an additional $1 billion from Saudi Arabia, the State Bank of Pakistan confirmed on Tuesday.

According to the central bank, the funds were transferred by the Saudi Ministry of Finance and represent the second tranche of a previously announced $3 billion deposit package aimed at supporting Pakistan’s foreign exchange reserves.

The State Bank added that $2 billion had already been received on April 15, completing the full $3 billion commitment pledged by Riyadh.

Separately, Finance Minister Muhammad Aurangzeb recently said that an existing $5 billion Saudi deposit is likely to be extended for three years instead of being rolled over annually, with its maturity expected to move to 2028.

Meanwhile, Pakistan has repaid $2 billion in deposits to the United Arab Emirates along with $450 million in interest last week, while repayment of another $1 billion is due on April 23.