Monday, February 18, 2019
(FOREIGN) Pakistan And Saudi Arabia Sign Investment Deals Worth $20bn
Saudi Arabia has pledged investment deals worth $20bn (£15.5bn) with Pakistan which is seeking to bolster its fragile economy. The deals include funding for an $8bn oil refinery in the city of Gwadar. It comes as part of a high-profile Asian tour by the kingdom’s Crown Prince Mohammed bin Salman. Pakistan is suffering a financial crisis. It has only $8bn left in foreign reserves and is looking to international backers for support.