[Published: Wednesday October 24 2018]
 Saudi Arabia pledges $ 6bn to Pakistan
RIYADH 24 Oct (ANA) - Saudi Arabia has agreed to give Pakistan $ 3bn for a period of one year as the South Asian country faces an economic crisis marked by a mounting balance of payments deficit and dwindling foreign currency reserves.
The Gulf kingdom also pledged an additional loan worth up to $ 3bn in deferred payments for oil imports, Pakistan's foreign ministry said in a statement on Tuesday.
The agreement came during a visit by Pakistan's Prime Minister Imran Khan to Riyadh, where he met King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman.
Khan also attended a high-profile investment conference that opened in the Saudi capital on Tuesday.
"It was agreed Saudi Arabia will place a deposit of $ 3bn for a period of one year as balance of payment support," Pakistan's foreign ministry said.
The additional deferred payment facility for oil imports will be in place for three years, which will be reviewed thereafter, the ministry stated.(ANA)
FA/ANA/24 October 2018-------
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