Riyadh to provide $500m to Pakistan for development projects

Pakistan and Saudi Arabia have agreed to give strategic direction to their ties through the Saudi-Pakistan Supreme Coordination Council (SP-SCC) by strengthening and diversifying existing bilateral cooperation in different fields.

According to a local media report that quoted the Ministry of Foreign Affairs, the Saudi Development Fund will finance projects worth $500 million.

The projects to be launched under this initiative will pertain to the sectors of energy, hydropower generation, infrastructure, transport, communication and water resource development.

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