Written by Reuters
18 Feb, 2019 | 3:37 pm
Reuters – Pakistan sent fighter jets to guide the plane of Saudi Arabia’s Crown Prince Mohammed bin Salman on his arrival for a high-profile visit to the country on Sunday (February 17).
Prince Mohammed on Sunday said Saudi Arabia has signed investment agreements worth $20 billion during his high-profile visit to Pakistan, where tensions were flaring up with nuclear-armed rival India.
“It is the PAF’s (Pakistan Air Force) unique tradition of welcoming the visiting heads of states/governments of brotherly countries whenever they are on their official visits to Pakistan,” the PAF media wing said in a statement.
Kicking off his tour of South Asia and China with a far higher Pakistan investment than expected, the crown prince said the $20 billion figure represents only the start of an economic tie-up that would bring the historic Muslim allies even closer.
Saudi Arabia has in recent months helped keep Pakistan’s economy afloat by propping up its rapidly dwindling foreign exchange reserves with a $6 billion loan, giving Islamabad breathing room as it negotiates a bailout with the International Monetary Fund.
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