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)
Short Url
Updated 19 January 2023
Follow

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.


US freezes visa processing for 75 countries, media reports Pakistan included

Updated 14 January 2026
Follow

US freezes visa processing for 75 countries, media reports Pakistan included

  • State Department announces indefinite pause on immigrant visas starting Jan 21
  • Move underscores Trump’s hard-line immigration push despite close Pakistan-US ties

ISLAMABAD: The United States will pause immigrant visa processing for applicants from 75 countries starting Jan. 21, the State Department said on Wednesday, with Fox News and other media outlets reporting that Pakistan is among the countries affected by the indefinite suspension.

The move comes as the Trump administration presses ahead with a broad immigration crackdown, with Pakistan included among the affected countries despite strong ongoing diplomatic engagement between Islamabad and Washington on economic cooperation, regional diplomacy and security matters.

Fox News, citing an internal State Department memo, said US embassies had been instructed to refuse immigrant visas under existing law while Washington reassesses screening and vetting procedures. The report said the pause would apply indefinitely and covers countries across Asia, Africa, the Middle East, Europe and Latin America.

“The State Department will pause immigrant visa processing from 75 countries whose migrants take welfare from the American people at unacceptable rates. The freeze will remain active until the US can ensure that new immigrants will not extract wealth from the American people,” the Department of State said in a post on X.

According to Fox News and Pakistan news outlets like Dawn, the list of affected countries includes Pakistan, Afghanistan, Bangladesh, Iran, Iraq, Egypt, Nigeria, Russia, Somalia, Brazil and Thailand, among others. 

“The suspension could delay travel, study, and work plans for thousands of Pakistanis who annually seek US visas. Pakistani consulates in the US are expected to provide guidance to affected applicants in the coming days,” Dawn reported.

A State Department spokesman declined comment when Arab News reached out via email to confirm if Pakistan was on the list. 

The Department has not publicly released the full list of countries or clarified which visa categories would be affected, nor has it provided a timeline for when processing could resume.

Trump has made immigration enforcement a central pillar of his agenda since returning to office last year, reviving and expanding the use of the “public charge” provision of US immigration law to restrict entry by migrants deemed likely to rely on public benefits.

During his previous term as president, Trump imposed sweeping travel restrictions on several Muslim-majority countries, a policy widely referred to as a “Muslim ban,” which was challenged in US courts before a revised version was upheld by the Supreme Court. That policy was later rescinded under the President Joe Biden administration.

The latest visa freeze marks a renewed hardening of US immigration policy, raising uncertainty for migrants from affected countries as Washington reassesses its screening and vetting procedures. 

The freeze on visas comes amid an intensifying crackdown on immigration enforcement by the Trump administration. In Minneapolis last week, a US Immigration and Customs Enforcement (ICE) agent shot and killed 37-year-old Renee Good, a US citizen, during a federal operation, an incident that has drawn nationwide protests and scrutiny of ICE tactics. Family members and local officials have challenged the federal account of the shooting, even as Department of Homeland Security officials defended the agent’s actions. The case has prompted resignations by federal prosecutors and heightened debate over the conduct of immigration enforcement under the current administration.