Pakistan receives $2 billion from Saudi Arabia, UAE for financial assistance

Pakistan receives $2 billion from Saudi Arabia, UAE for financial assistance

KARACHI: Pakistan has received around $2 billion as financial assistance from Saudi Arabia and United Arab Emirates (UAE) for building up foreign exchange reserves, State Bank of Pakistan (SBP) said on Friday.

The central bank received one billion dollars as the third tranche of $3 billion pledged by the Saudi Arabia.

Another amount of $1 billion was received from UAE. The fund has been received under an agreement signed on January 22, 2019 by SBP governor Tariq Bajwa and Director General of Abu Dhabi for Development, the SBP said.

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