Saudi Arabia deposited $3 billion each in the central bankslink of Pakistan and Egypt, theSaudi Press Agency (SPA) reported early on Monday.
The report by the SPA was cited a statement by the Saudi Finance Ministry,saying that Riyadh is considered one of the leading countries supportingthe foreign exchange reserves of nations in need during the pandemic.
It noted that Saudi Arabia provided a deposit of $3 billion to the CentralBank of Egypt, while extending the term of a previous $2.3 billion deposit.
According to data from the Central Bank of Egypt, Saudi Arabia holdslong-term deposits in the lender, totaling $5.5 billion as of the end ofMarch.
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The statement also said that Saudi Arabia had deposited $3 billion in theCentral Bank of Pakistan, with $1.2 billion in trade finance to support theSouth Asian country’s balance of payments.
It also said that these facilities, which reached a total of $9.5 billion,were equivalent to approximately 70% of the special drawing rights recentlyallocated to Saudi Arabia from the International Monetary Fund.
