Saudi Ara­bia to pro­vide $122m to Pak­istan for de­vel­op­ment

The Pak Banker - - NATIONAL -

Pak­istan on Thurs­day signed six agree­ments with Saudi Ara­bia for dif­fer­ent de­vel­op­ment projects. Ac­cord­ing to de­tails, Saudi Ara­bia will pro­vide 122 mil­lion dol­lars to Pak­istan for dif­fer­ent de­vel­op­ment projects to be car­ried out in Pak­istan and AJK. Sec­re­tary Eco­nomic Affairs Divi­sion, Vice Chair­man Saudi De­vel­op­ment Fund Yousuf Ibrahim and Min­is­ter for Fi­nance Ishaq Dar were also present on the oc­ca­sion. The 122 mil­lion dol­lars com­prised of grant and soft loan will be spent on dif­fer­ent de­vel­op­ment projects in Is­lam­abad, Balochis­tan and AJK.

Speak­ing on the oc­ca­sion, Fi­nance Min­is­ter Ishaq Dar said that Saudi Ara­bia is big sup­porter of Pak­istan and is co­op­er­at­ing in coun­try s eco­nomic de­vel­op­ment. He said Saudi Ara­bia has also co­op­er­ated in Neelum Jhelum and other projects. He thanked the lead­er­ship of Saudi Ara­bia for the gen­er­ous as­sis­tance and stated that both the coun­tries have good broth­erly re­la­tions.

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