Saudi Arabia will deposit $2 billion into the State Bank of Pakistan’s account within the next seven working days. This was confirmed by the Saudi Ambassador to Pakistan during a meeting with a Special Assistant to the Prime Minister in Islamabad. The ambassador said that Saudi Arabia is committed to building long-term, sustainable investment transactions between the two countries. Saudi Crown Prince Mohammed bin Salman has pledged to increase Saudi Arabian investments to $10 billion in Pakistan’s energy and IT sectors within the next few years. The Saudi envoy also expressed interest in recruiting more manpower from Pakistan for various sectors of the kingdom. Discussions were held on strengthening bilateral business relations, recruitment of more workforce from Pakistan, and enhancing foreign direct investment in potential sectors of the economy. Earlier this month, Saudi Arabia assured the International Monetary Fund (IMF) it will provide a $2 billion loan to Pakistan. Pakistan also announced financial support from the United Arab Emirates and China totaling $1.3 billion, helping the economy as it seeks to meet conditions for the resumption of an IMF bailout.

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