Saudi Extends USD 3 Billion Financing Facility For Pakistan

Saudi Arabia has extended the USD 3 billion financing facility for Pakistan, provided in April this year, for a "reasonable period", Finance Minister Muhammad Aurangzeb said. Speaking to journalists at Parliament House on Wednesday, Aurangzeb said: "It has been extended, and for a reasonable period."

"You don't need to worry as to for how long, given the kind of strategic relationship we have," Dawn quoted him as saying in



response to a query that the financing facility had already matured on October 31.

The kingdom provided the USD 3 billion financing in April this year after Pakistan paid back USD 3.5 billion to the United Arab Emirates. Initially, it was provided for three months.

Saudi Arabia had also provided another USD 5 billion to bridge the financing gap, and it had already been extended until 2028, Aurangzeb said.