Saudi Arabia, Qatar Pledge $5 Billion to Pakistan as UAE Seeks Loan Repayment
Islamabad — Saudi Arabia and Qatar have assured Pakistan of $5 billion in financial support, Turkish media reported Saturday, as Islamabad prepares to repay a $3.5 billion loan to the UAE by end of April following Abu Dhabi’s request for immediate repayment.Saudi Finance Minister met Prime Minister Shehbaz Sharif in Islamabad, reaffirming Riyadh’s commitment to…
Islamabad — Saudi Arabia and Qatar have assured Pakistan of $5 billion in financial support, Turkish media reported Saturday, as Islamabad prepares to repay a $3.5 billion loan to the UAE by end of April following Abu Dhabi’s request for immediate repayment.
Saudi Finance Minister met Prime Minister Shehbaz Sharif in Islamabad, reaffirming Riyadh’s commitment to Pakistan amid rising regional tensions in the Middle East. The high-level talks, attended by Foreign Minister Ishaq Dar and Field Marshal Asim Munir, focused on economic cooperation and the evolving Gulf regional dynamics.
Pakistan also requested an extension of Saudi Arabia’s Oil Financing Facility — set to expire this month — along with an increase in existing cash deposits. The combined $5 billion pledge from Saudi Arabia and Qatar is expected to ease pressure on Pakistan’s foreign exchange reserves, which currently stand at approximately $16.4 billion.
