WASHINGTON – The Saudi Fund for Development (SFD) and the State Bank of Pakistan (SBP) have signed an agreement to extend the maturity of a USD 3 billion deposit placed by SFD with Pakistan
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, witnessed the signing of an important financial agreement in Washington DC, in the presence of the Ambassador of Pakistan to the United States, on the sidelines of the World Bank-IMF Spring Meetings 2026.
The agreement provides for the extension in the maturity of a USD 3 billion deposit placed by SFD with the State Bank of Pakistan.
The agreement was signed by Mr. Sultan bin Abdulrahman Al-Marshad, Chief Executive Officer of the Saudi Fund for Development, on behalf of SFD, and Mr. Jameel Ahmad, Governor of the State Bank of Pakistan, on behalf of SBP.
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.
A day earlier, State Bank of Pakistan has received funds of $2 billion from Ministry of Finance, Kingdom of Saudi Arabia in the value date of 15 April 2026.
It was confirmed by SBP in an official post on X. It comes as a relief for Pakistan as the South Asian country is preparing to clear some external payments.
A day earlier, Saudi Arabia announced fresh $3 billion financial support package for Pakistan and extended its existing $5 billion deposit for a longer term.
It was revealed by Finance Minister Muhammad Aurangzeb during his visit to Washington for the IMF–World Bank Spring Meetings.
It signals renewed backing for Pakistan’s fragile external account. With rising repayment pressures and limited foreign exchange reserves, the Saudi support is seen as a timely boost that could help stabilize the country’s financial outlook and ease immediate funding concerns.
FinMin Aurangzeb revealed financial breakthrough, saying that Saudi Arabia will pump additional $3 billion in emergency financial support, expected to be disbursed as early as next week. KSA also agreed to extend its existing $5 billion deposit for a longer tenure, moving away from short-term annual rollovers.
He called package as arriving at a “critical moment” for Pakistan’s economy, helping shore up foreign exchange reserves and stabilize the country’s external account position.
