Saudi Arabia announced on Monday that it would give $380 million loan to Pakistan. According to a private TV channel, the agreement between Economic Affairs Division and Saudi Fund will be signed on Tuesday (today). $200 million will be spent to cover budget deficit whereas $100 million will be spent to buy urea for coming crops.
$80 million will be spent on Neelum Jhelum Hydro Power project. Though, the amount allocated on hydro power project is moderate but it will facilitate further donor funding. Out of total package, $180 million is loan and 200 million is for budgetary support.
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