Saudi Arabia says in talks with World Bank, others to be ‘more creative’ in supporting Pakistan

Saudi finance minister, Mohammed Al-Jadaan, is pictured while addressing a session at the World Economic Forum Annual Meeting (WEF) 2023 in Davos, Switzerland, on January 18, 2022. (Photo courtesy: WEF)
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Updated 19 January 2023
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Saudi Arabia says in talks with World Bank, others to be ‘more creative’ in supporting Pakistan

  • Finance minister’s statement coincides with remarks at Davos that kingdom would change the way it provides assistance to allies
  • Kingdom is shifting from previously giving direct grants and deposits unconditionally and encouraging countries to enact reforms

ISLAMABAD: Saudi Arabia is in talks with the World Bank and other financial institutions to come up with “more creative” ways to provide financial support to Pakistan, Saudi Minister of Finance Mohammed Al-Jadaan said this week.

The finance minister’s statement coincides with his remarks at Davos on Wednesday where he said the kingdom would change the way it provides assistance to allies, shifting from previously giving direct grants and deposits unconditionally and encouraging countries it supports to enact economic reforms.

Pakistan is currently facing a severe foreign exchange crisis, with State Bank reserves falling to a critical level of $4.3 billion.

As the specter of default looms large, Prime Minister Shehbaz Sharif’s administration has been desperately seeking external financing, particularly a loan tranche from the International Monetary Fund (IMF) which has been pending since September last year. Pakistan is also looking at “friendly” nations like Saudi Arabia and the UAE to bail it out.

In an interview to Bloomberg this week, Al-Jadaan said Saudi Arabia was working with multilateral institutions to provide support to Pakistan, Turkiye and Egypt as part of the kingdom’s largesse to nations it deems “vulnerable.”

“We are investing heavily in these countries and will continue to look for opportunities to invest,” he said. “It’s very important to bring stability.”

The kingdom was also discussing with the World Bank and other institutions how it could be “more creative” in providing support to Pakistan.

Al-Jadaan said Saudi Arabia was looking to invest $10 billion in Pakistan and had already extended the term of a $3 billion deposit to boost its foreign-currency reserves late last year. Saudi Arabia was now exploring the possibility of increasing the amount, he added.

 “We are providing even oil and derivatives to support their energy needs,” Al Jadaan said. “So there is a lot of effort.”

During a panel discussion at the World Economic Forum in Davos on Wednesday, Al-Jadaan said the kingdom wanted to move away from its previous policy of giving nations direct grants and deposits “without strings attached.”

“We are working with multilateral institutions to actually say we need to see reforms,” Al-Jadaan said. “We are taxing our people, we are expecting also others to do the same, to do their efforts. We want to help but we want you also to do your part.”

Saudi Arabia and other Gulf Arab states like the United Arab Emirates and Qatar have increasingly moved toward investing rather than extending direct financial aid.


Pakistan condemns Sudan attack that killed Bangladeshi UN peacekeepers, calls it war crime

Updated 14 December 2025
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Pakistan condemns Sudan attack that killed Bangladeshi UN peacekeepers, calls it war crime

  • Six peacekeepers were killed in a drone strike in Kadugli as fighting between Sudan’s army and the RSF grinds on
  • Pakistan, a major troop contributor to the UN, says perpetrators of the attack must be identified, brought to justice

ISLAMABAD: Pakistan on Sunday extended condolences to the government and people of Bangladesh after six United Nations peacekeepers from the country were killed in a drone strike in southern Sudan, condemning the attack and describing it as a war crime.

The attack took place amid a full-scale internal conflict that erupted in April 2023 between the Sudanese Armed Forces (SAF) and the Rapid Support Forces (RSF), a powerful paramilitary group, following a power struggle after the collapse of Sudan’s post-Bashir political transition.

Omar Al-Bashir, who ruled Sudan for nearly three decades, was ousted by the military in 2019 after months of mass protests, but efforts to transition to civilian rule later faltered, plunging the country back into violence that has since spread nationwide.

The drone strike hit a logistics base of the United Nations Interim Security Force for Abyei (UNISFA) in Kadugli, the capital of South Kordofan state, on Saturday, killing the Bangladeshi peacekeepers. Sudan’s army blamed the RSF for the attack, though there was no immediate public claim of responsibility.

“Pakistan strongly condemns the attack on @UNISFA in Kadugli, resulting in the tragic loss of 6 Bangladeshi peacekeepers & injuries to several others,” the country’s permanent mission to the UN said in a social media message. “We honor their supreme sacrifice in the service of peace, and express our deepest condolences to the government and people of #Bangladesh.”

“Such heinous attacks on UN peacekeepers amount to war crimes,” it added. “Perpetrators of this horrific attack must be identified and brought to justice. As a major troop-contributing country, we stand in complete solidarity with all Blue Helmets serving the cause of peace in the perilous conditions worldwide.”

According to Pakistan’s UN mission in July, the country has deployed more than 235,000 peacekeepers to 48 UN missions across four continents over the past eight decades.

Pakistan also hosts one of the UN’s oldest peacekeeping operations, the United Nations Military Observer Group in India and Pakistan (UNMOGIP), and is a founding member of the UN Peacebuilding Commission.

More than 180 Pakistani peacekeepers have lost their lives while serving under the UN flag.

Pakistan and Bangladesh have also been working in recent months to ease decades of strained ties rooted in the events of 1971, when Bangladesh — formerly part of Pakistan — became independent following a bloody war.

Relations have begun to shift following the ouster of former Bangladeshi prime minister Sheikh Hasina last year amid mass protests.

Hasina later fled to India, Pakistan’s neighbor and arch-rival, creating space for Islamabad and Dhaka to rebuild their relationship.