Kingdom provides soft loans worth of $380 million to Pakistan

Published 11 Nov 2009
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Kingdom provides soft loans worth of $380 million to Pakistan
 Islamabad - Pakistan and Saudi Arabia on Tuesday signed three agreements worth $380 million.The agreement, according to Saudi Press Agency,  aims to provide $ 200 million in budget support for the Pakistani government and $ 100 million to secure fertilizers from the Kingdom-based company "SABIC" for agricultural usage, in addition to $ 80 million to finance the Neelum Jhelum Hydropower project.
Of these, two loan agreements pertained to the pledge made by Saudi Arabia during Donors Conference held in Tokyo on the backdrop of Friends of Democratic Pakistan meeting in which it pledged US$700 million for Pakistan.
The loan agreements were signed by Vice Chairman and Managing Director Saudi Fund for Development, Eng. Yousef Ibrahim Al-Bassam on behalf of Saudi Arabia and Secretary Economic Affairs Division, Sibtain Fazal Halim and Deputy Governor Sate Bank of Pakistan, Yaseen Anwar on behalf of Pakistan.

Last Modified Date: 10/02/2013 - 4:13 PM Saudi Arabia Time


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