Saudi Arabia’s finance ministry said on Sunday the Kingdom deposited $3 billion at Egypt’s central bank and extended the term of another $2.3 billion in previous deposits.
The Kingdom also deposited $3 billion at the Central Bank of Pakistan and extended $1.2 billion of trade finance to support Pakistan’s balance of payment, the ministry said in its statement.
“Saudi Arabia is one of the main countries that support foreign reserves for countries in need during the [COVID-19] crisis,” the ministry added.
The Kingdom’s ministry also stated that the announced deposits and financial support of $9.5 billion is equivalent to around 70 percent of the Kingdom’s Special Drawing Rights that were recently distributed from the International Monetary Fund (IMF).
