Saudi Arabia to invest $1bln in Pakistan

Saudi Arabia announced that it will invest $1 billion in Pakistan to help the country with its current economic difficulties.

The Saudi Foreign Ministry said in a statement that King Salman bin Abdulaziz has issued investment orders to help Pakistan's economy.

Saudi Foreign Minister Faisal bin Farhan later phoned his Pakistani counterpart Bilawal Bhutto Zardari to inform him of the decision, which he then tweeted.

On Wednesday, the Qatar Investment Authority also announced that it would invest $3 billion in various commercial and investment sectors in the South Asian country, which is struggling due to a reduction in the country's foreign reserves, which presently stand at $7.8 billion.