Saudi Fund for Development has signed an agreement with State Bank of Pakistan to extend the maturity of its three billion dollar deposit.

The agreement was signed in Washington D.C by Chief Executive Officer of Saudi Fund for Development Sultan bin Abdul Rahman Al-Marshad and State Bank of Pakistan Governor Jameel Ahmad.

Finance Minister Muhammad Aurangzeb was also present on the occasion.

The extension of the deposit reflects the strong and longstanding economic partnership between Pakistan and the Kingdom of Saudi Arabia, and will further support Pakistan’s external sector stability.