Saudi Arabia on Thursday confirmed it is depositing an additional $3 billion with the State Bank of Pakistan (SBP), with state-run media saying the financial support is in accordance with directives issued by King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman.
The announcement follows Finance Minister Muhammad Aurangzeb stating Saudi Arabia had committed $3 billion in additional financial support for Pakistan and decided to extend the maturity of its existing $5 billion deposit for a longer period. Previously, the deposit was rolled over annually.
In a statement, Saudi state news agency SPA said the deposit aimed to support “the economy of the brotherly Islamic Republic of Pakistan” and strengthen its resilience in the face of global economic challenges. It affirmed that the support includes extending the maturity of the earlier $5 billion deposit with the central bank.
The financial support reinforces the bonds of brotherhood between the two brotherly countries, read the statement, and affirms Saudi Arabia’s continued commitment to supporting Pakistan’s economy.
A day earlier, the SBP had announced it had received $2 billion from Saudi Arabia “in the value date of April 15, 2026.”
Observers had noted pressures on Pakistan’s external account following the repayment of $3.5 billion to the United Arab Emirates this month. The finance minister had admitted it risked Pakistan failing to achieve $18 billion in foreign reserves by June under its IMF program. According to the SBP, the country’s total foreign exchange reserves stood at $16.4 billion on March 27.