Riyadh commits $3bn funding to Pakistan

Saudi Arabia has committed $3 billion in deposits to Pakistan, Islamabad’s finance minister Muhammad Aurangzeb has announced.

The kingdom has also extended its existing $5 billion deposit, which was previously subject to annual rollovers, for a “longer period”, Aurangzeb said in a post on X. 

The extension will be for three years, the Dawn newspaper reported.

The announcement was made on the sidelines of the World Bank–IMF Spring Meetings 2026 in Washington, DC, following a “detailed meeting” between Aurangzeb and his Saudi counterpart Mohammed Al Jadaan.

Earlier this month Pakistan’s foreign ministry said the country will repay $3.5 billion in matured loan deposits to the UAE before the end of April.

Aurangzeb said that Saudi Arabia’s support comes at a critical time and will help reinforce foreign exchange reserves and strengthen the country’s external account.

He said the government was committed to maintaining foreign exchange reserves in line with the IMF-supported programme, including meeting the $18 billion target, equivalent to 3.3 months of import cover, by the end of the fiscal year.

Last month Pakistan reached an initial agreement with the IMF to secure the release of $1.2 billion from a $7 billion bailout programme to support its economy.

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