Saudi Arabia extends term for $3bn deposit for one year: SBP

Saudi Arabia has extended the term for the deposit of $3 billion maturing on December 5, 2023, for another year, the State Bank of Pakistan (SBP) announced in a statement. “The Saudi Fund for Development (SFD) on behalf of the Kingdom of Saudi Arabia has extended the term for the deposit of USD 3 billion maturing on 05 December 2023 for another year. The said amount has been placed with the State Bank of Pakistan (SBP) on behalf of the Islamic Republic of Pakistan,” the SBP stated. The extension of the term of the deposit is a continuation of the support provided by the Kingdom of Saudi Arabia to the Islamic Republic of Pakistan.