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Pakistan and Saudi Arabia have agreed to extend the maturity of a $3 billion deposit held with the State Bank of Pakistan, according to a statement from the finance ministry on Friday.
The agreement was signed by Sultan bin Abdul Rahman Al-Marshad and Jameel Ahmad on the sidelines of the World Bank-IMF Spring Meetings 2026 in Washington.
It formalizes the extension of the $3 billion deposit placed by the Saudi Fund for Development with Pakistan’s central bank. Muhammad Aurangzeb and Pakistan’s ambassador to the United States were present at the signing.
Finance Minister Witnesses Signing of Saudi Deposit Extension Agreement with State Bank of Pakistan
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, witnessed the signing of an important financial agreement in Washington, D.C., in the presence of the… pic.twitter.com/2BCoaWPhNL
— Ministry of Finance, Government of Pakistan (@Financegovpk) April 17, 2026
The finance ministry said the move highlights the strong and longstanding economic ties between the two countries and is expected to help support Pakistan’s external sector stability.
The development follows Saudi Arabia’s announcement a day earlier of an additional $3 billion deposit with the SBP. According to the Saudi Press Agency, the support was directed by King Salman bin Abdulaziz Al Saud and Mohammed bin Salman.
Earlier, the central bank confirmed receiving $2 billion from Saudi Arabia with a value date of April 15, 2026.
Finance Minister Aurangzeb had previously stated that Riyadh committed $3 billion in additional financial assistance while also extending the tenure of its existing deposit.
Saudi Arabia has a history of supporting Pakistan during economic challenges. In 2018, it announced a $6 billion package, including a $3 billion deposit at the central bank and $3 billion worth of oil supplies on deferred payments.
At the same time, Pakistan is facing a $3.5 billion repayment to the United Arab Emirates this month, putting pressure on its foreign exchange reserves, which stood at about $16.4 billion as of March 27.
Under its $7 billion programme with the International Monetary Fund, Pakistan aims to raise reserves above $18 billion by June.
The country has also recently repaid $1.43 billion in external debt, including $1.3 billion in Eurobonds. Khurram Schehzad said in a post on X on April 7 that debt servicing is continuing, reflecting consistency and improved capacity.
The repayment included $126.125 million in coupon payments on other Eurobond issuances, he added.
