Monitoring Desk
RIYADH: Saudi Arabia’s cabinet said on Tuesday that the Kingdom’s participation in the International Conference on Climate Resilient Pakistan is an affirmation of its solidarity with Pakistan, Arab media reported.
The Cabinet said that the KSA’s participation in the conference in Geneva is an extension of Saudi Arabia’s support to providing humanitarian assistance to the flood-hit people in Pakistan.
Recent floods in Pakistan have affected 33 million people, with more than 1,730 lives lost as well as 2 million housing units affected, and several thousands of schools and hospitals destroyed.
Riyadh
Meanwhile, Saudi Press Agency reported on Tuesday that Riyadh can also increase its investments in Pakistan’s economy to $10 billion and also increase the ceiling on deposits into Pakistan’s central bank to $5 billion.
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Saudi Arabia’s Crown Prince Mohammed bin Salman has also directed a study to increase Saudi Arabia’s investments to $10 billion, from the previous $1 billion announced in August.
The Crown prince also ordered the Saudi Development Fund to consider raising the ceiling for Saudi deposits into Pakistan’s central bank as part of steps to support its struggling economy.
