Thu, September 17, 2026
Washington (Web Desk): Pakistan and Saudi Arabia have agreed to extend a $3 billion deposit provided by the Saudi Fund for Development (SFD) to the State Bank of Pakistan (SBP), further deepening financial cooperation between the two allies.
Earlier this week, Riyadh had also announced an additional $3 billion in deposits for Pakistan and extended its existing $5 billion financing facility for another three years, offering further relief to Islamabad’s external financing needs.
According to a post shared by the Ministry of Finance on X, the arrangement involves the extension of the maturity period of a $3 billion deposit placed by the SFD with the State Bank of Pakistan.
Finance Minister Witnesses Signing of Saudi Deposit Extension Agreement with State Bank of Pakistan
— Ministry of Finance, Government of Pakistan (@Financegovpk) April 17, 2026
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, witnessed the signing of an important financial agreement in Washington D.C., in the presence of the… pic.twitter.com/2BCoaWPhNL
The agreement was formalised between SBP Governor Jameel Ahmad and Saudi Fund for Development Chief Executive Officer Sultan bin Abdulrahman Al-Marshad.
The signing was witnessed by Finance Minister Muhammad Aurangzeb in Washington, DC, where he attended the ceremony during his visit. Pakistan’s ambassador to the United States was also present at the occasion.
The meeting took place on the sidelines of the World Bank-IMF Spring Meetings.
In a statement, the Finance Ministry said that the development reflects “strong and longstanding economic partnership between Pakistan and the Kingdom of Saudi Arabia” and added that it is expected to help reinforce stability in Pakistan’s external sector.
The announcement comes at a critical time for Pakistan’s economy, as the external account remains under pressure amid rising global oil prices and wider economic impacts linked to escalating tensions in the Middle East.
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