Explanation

Pakistan and Saudi Funds Development (SFD) signed a $1.61 billion agreement on 3rd February 2025 to boost economic cooperation. Prime Minister Shehbaz Sharif and the Chief Executive Officer of Saudi Fund for Development (SFD), Sultan Abdulrahman Al-Marshad, witnessed the signing of two significant agreements between Pakistan and SFD, valued at $1.61 billion. The agreements were signed on Monday, further strengthening bilateral economic cooperation between the two nations. They include a deferred payment facility for oil imports from Saudi Arabia worth $1.20 billion, to be paid over one year, and a concessional loan agreement for the construction of a gravity-flow water scheme at Mansehra in Khyber Pakhtunkhwa, amounting to $41 million.