NEW DELHI— Saudi Arabia will invest US$1 billion to support Pakistan’s economy.
Saudi King Salman Bin Abdul Aziz Al Saud has issued the directive to make the investment, the official Saudi Press Agency (SPA) reported on Thursday.
Foreign Minister Prince Faisal Bin Farhan Bin Abdullah informed his Pakistani counterpart Bilawal Bhutto Zardari about the kingdom’s decision during a phone conversation.
The two ministers discussed ways to strengthen bilateral relations as well as regional and international issues of common interest, the SPA reported.
Bilawal in a tweet said he briefed the Saudi foreign minister about the damage caused by unprecedented floods in Pakistan.
Pakistan, facing declining foreign exchange reserves and rising inflation, on Wednesday received a US$3 billion investment commitment from Qatar, according to Qatar’s state news agency.
Source: Nam News Network