Saudi Arabia has agreed to finance various development projects worth $250 million in Pakistan on a fast track basis, reported the local daily Dawn on Wednesday.
It said that a delegation from the Saudi Fund for Development headed by Yousef I. Al Bassam met Pakistani Finance Minister Shaukat Aziz in Islamabad on Tuesday and informed him that his country had agreed to extend $250 million to Pakistan for development projects.
The finance minister urged the delegation to help the Pakistani government with its resolve to improve the economy.
Welcoming the fund's continued support, the minister underlined the need for rapid disbursement of funds for economic development and prosperity.
"Although our bilateral ties are very deep and well established, the degree of economic cooperation between the two countries needs a boost," the minister was quoted as saying.
The managing director of the Saudi Fund for Development assured the minister of their continued support. He noted that the structural reforms of the government were moving in the right direction and said he hoped that these measures would augur well for Pakistan's economic prosperity – Albawaba.com
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