Thursday, March 20, 2014

Saudi Arabia Loans/Grants Pakistan $1.5 billion

Saudi Arabia gave USD1.5 billion to Pakistan on undisclosed terms in early March, prompting speculation that the two countries are working rapidly to further cement their security ties.

IHS Jane's reported earlier in 2014 that Saudi Arabia had sought the deployment of Pakistani troops to the kingdom while Islamabad was seeking sales of its JF-17 Thunder fighter aircraft, Super Mushshak trainer aircraft and Al-Khalid main battle tank.

A senior Pakistan government official told IHS Jane's that "at least half the Saudi funds" came as a grant while the other half "could also become a grant in future".

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