Saudi Arabia Extends $3 Billion Deposit With Pakistan for Another Year

The Saudi Fund for Development, acting on behalf of the Kingdom of Saudi Arabia, has extended the term of its $3 billion deposit with the State Bank of Pakistan (SBP) for another year, according to an official statement issued by the State Bank of Pakistan. The deposit, which was set to mature on December 8, 2025, was originally placed with the SBP in 2021 and has been rolled over since then. The extension is part of Saudi Arabia’s ongoing support for Pakistan’s economy and is expected to help bolster the country’s foreign exchange reserves. The funds, held by the SBP on behalf of the Islamic Republic of Pakistan, are seen as a critical buffer for the nation’s balance of payments and economic stability. The rollover comes at a time when Pakistan continues to face external financing pressures and seeks to maintain adequate reserve levels.