Saudi Arabia pledges US$3b to Pakistan amid balance of payment crisis

[ISLAMABAD] Saudi Arabia on Tuesday pledged US$3 billion to Pakistan as the South Asian country battles a balance of payment crisis, a statement from Islamabad said.

It also agreed to another US$3 billion on deferred payment for import of oil, the statement added.

The agreement came between the two countries during a visit by Prime Minister Imran Khan to Riyadh where he met King Salman bin Abdulaziz.

Mr Khan also attended a Saudi Arabian investment conference where the newly minted leader launched a charm offensive targeting potential investors as Pakistan seeks to secure funds.

AFP