A delegation of Saudi Fund for Development led by its Chief Executive Officer Sultan Bin Abdul Rehman Al Marshad called on Prime Minister Shehbaz Sharif in Islamabad on Monday.
Welcoming the delegation, Shehbaz Sharif appreciated the long-standing friendship between Saudi Arabia and Pakistan and the efforts of the Fund for providing financing to Pakistan in the fields of health, energy, infrastructure and education as well the for the reconstruction after the 2022 floods.
The CEO Saudi Fund for Development thanked the Prime Minister and Government of Pakistan for the warm welcome and hospitality extended to the Saudi delegation.
The CEO Saudi Fund for Development shared updates with the Prime Minister about the ongoing projects including Mohmand Multi-purpose Hydropower Project, Golan Gol Hydropower Project, Malakand Regional Development Project, and other projects funded through Saudi grants.
The Prime Minister highlighted the need to expedite the processing of the new projects in the field of green energy and infrastructure, which once implemented would go a long way in the economic revival of the country, besides serving the needs of the local communities.
The CEO Saudi Fund for Development assured early processing of the shared projects and also reiterated that Saudi Arabia, under the leadership of the Royal Family, would extend all possible assistance and continued support to Pakistan.
The Prime Minster thanked the CEO and members of the delegation and conveyed his best wishes to all the members of the Royal Family, especially Khadim-e-Harmain Sharifain King Salman bin Abdulaziz Al Saud and Crown Prince and Prime Minister Mohammed bin Salman.
Shehbaz Sharif also welcomed the signing of Oil Import Financing Facility according to which Pakistan will receive oil on deffered payment for one year worth 1.2 billion dollar. This project will strengthen Pakistan's economic resilience by securing a stable supply of petroleum products while reducing immediate fiscal burdens.