Pakistan, Saudi Arabia Investors Launch Private Fund To Boost Trade, Investment
The Saudi-Pakistan Joint Business Council, formed by the governments of both countries, said the fund's initial size is "multi-hundred million", which is expected to expand based on opportunities across sectors.
Recommended For You Saudi-led coalition targets Houthi missile launchers used in attempted Riyadh attackThree-fourths of the fund will be invested in Pakistan, while the rest will be invested in Saudi Arabian projects, the council said in a statement.
The launch of the fund comes at a time when Islamabad and Riyadh are deepening longstanding ties, especially in defence, amid few signs of a breakthrough in the months-long US-Iran conflict.
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