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Saudi Prince Pledges $20 bn Investment for Pakistan
February 20, 2019
As Saudi Arabia’s bonds with other nations are weakening, the nation’s crown prince Mohammed bin Salman has pledged to invest 20 billion USD in Pakistan. The two countries recently signed MoUs in agriculture and energy sectors which include a 10 billion USD oil refinery project that shall be set up in Gwadar. The gulf nation has also signed an agreement under which it will supply Pakistan with petroleum products to help it meet its energy requirements.
Saudi Arabia’s financial assistance to Pakistan comes at a time when tensions are high between India and Pakistan in light of the recent Pulwama terrorist attack.
Photo credit: Secretary of Defense on Visualhunt /CC BY
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