Saudi Arabia gives relief on debt payment to Pakistan

Saudi Arabia gives relief on debt payment to Pakistan

Pakistan

Saudi Arabia gives relief on debt payment to Pakistan

ISLAMABAD (Dunya News) – Saudi Arabia on Thursday gave relief to Pakistan on the matters pertaining to the payment of debt.

According to a statement issued by Ministry of Economic Affairs, Saudi Arabia has rescheduled Pakistan s debt of more than 84 million dollars and defaulted on its debt for the next six months.

Saudi Arabia held a ceremony to sign a loan agreement with Pakistan. Under this initiative, Saudi Arab will provide relief to Pakistan under the G20. The repayment of loans has been postponed for the next 6 months.

Meanwhile, the Saudi ambassador was also present at the ceremony while DG Saudi Development Fund, signed the agreement.