KSA to provide US$122m to Pakistan for different projects

ISLAMABAD: Saudi Arabia will provide US$122 million to Pakistan for different development projects to be carried out in Pakistan and AJK.

Six agreements to this effect were signed at a ceremony in Islamabad today.  Vice Chairman Saudi Development Fund Yousuf Ibrahim and Secretary Economic Affairs Division and Minister for Finance Ishaq Dar were also present on the occasion.

The $122 million comprised of grant and soft loan which would be spent on different development projects in Islamabad, Balochistan and AJK.

Speaking on the occasion, the finance minister said Saudi Arabia was big supporter of Pakistan and was cooperating in country’s economic development.  He said Saudi Arabia had also cooperated in Neelum Jhelum and other projects. He said thanked the leadership of Saudi Arabia for the generous assistance.  He said Pakistan and Saudi Arabia had good brotherly relations.

Vice Chairman of Saudi Development Fund Yousuf Ibrahim said Saudi Arabia would continue to cooperate with Pakistan in various sectors of its economy.

Radio Pakistan