Saudi Arabia Extends $3bn Deposit Support for Pakistan

News Desk 

Islamabad: Saudi Arabia has rolled over its $3 billion deposit with Pakistan for another year, the State Bank of Pakistan (SBP) announced on Thursday, providing continued financial support to shore up the country’s economy.

In a statement, the SBP said: “The Saudi Fund for Development (SFD), on behalf of the Kingdom of Saudi Arabia, has extended the term of the $3 billion deposit maturing on December 8, 2025, for one more year.”

The central bank noted that the extension would help reinforce Pakistan’s foreign exchange reserves and support economic stability and growth. The deposit, held with the SBP on behalf of the government, was first placed in 2021 and has been rolled over several times since.

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The latest extension follows Prime Minister Shehbaz Sharif’s meeting with Saudi Crown Prince Mohammed bin Salman in October in Riyadh during the Future Investment Initiative (FII9) conference. Both leaders had agreed to establish an “Economic Cooperation Framework” to enhance trade and investment ties.

Pakistan continues to grapple with economic pressures, including strained foreign exchange reserves, high inflation, and a widening fiscal deficit. As of November 21, 2025, the country’s total liquid foreign reserves stood at $19.6 billion, including $5.04 billion held by commercial banks.

The SBP said its own reserves increased by $9 million during the week ending November 21, reaching $14.56 billion.