Saudi Fund For Development loans $380 Million to Pakistan

November 10, 2009

A delegation from the Saudi Fund for Development (SFD) arrived in Islamabad today to sign three agreements with Pakistan for loans totaling $380 million.  The loan includes $200 million in budget support for the Pakistani government and $100 million to secure fertilizers from Saudi Basic Industries Corporation (SABIC) for agricultural usage, in addition to $80 million to finance the Neelum Jhelum Hydropower project, said Dr. Yousuf bin Ibrahim Al-Bassam, Deputy Chairman of the Saudi Development Fund.