Saudi Arabia’s Crown Prince Mohammed bin Salman has directed to study increasing the Kingdom’s investments in Pakistan to reach $10 billion. He also directed the Saudi Fund for Development to study increasing the Saudi deposit to Pakistan’s Central Bank to reach $5 billion.
The investments in Pakistan were previously announced in August. The Saudi deposit to the central bank was extended in December. Prince Mohammed’s directives come to affirm the Kingdom's position in supporting the economy of Pakistan and its people, the Saudi Press Agency said early Tuesday.
Over the years, the two countries have also succeeded in developing a unique synergy for mutual development. Saudi Arabia is home to the largest number of Pakistani expatriates, approximately two million. Pakistani engineers, construction experts and labour have played a crucial role in building infrastructure in the modern Saudi Arabia.
A Treaty of Friendship was signed by the two countries as early as in 1951, laying the basis for cooperation. Bilateral relations were buttressed over the coming decades by a tradition of strong financial and strategic assistance extended to each other by the two brotherly countries whenever required.
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