KARACHI: The State Bank of Pakistan has confirmed the receipt of $1 billion from the Ministry of Finance of the Kingdom of Saudi Arabia. This marks the second installment of a $3 billion deposit agreement between the two nations.
According to Radio Pakistan, the initial tranche of $2 billion was deposited on the 15th of this month. The recent financial inflow is part of a broader economic collaboration aimed at bolstering Pakistan’s foreign reserves. The remaining funds are expected to be disbursed as per the agreed timeline between the two countries.