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Saudi prince visits Pakistan, signs deals worth $20 billion to help its economy

Feb 18, 2019 12:37 IST
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Saudi Arabia and Pakistan signed a raft of investment deals Sunday worth up to $20 billion for the cash-strapped South Asian country.

Seven agreements and Memorandums of Understanding (MoUs) were inked as Saudi crown prince Mohammed bin Salman launched his diplomatic trip to Asia in Islamabad, with Pakistan hoping the deals will provide welcome relief to its teetering economy. The two-day visit to Pakistan comes amid high tensions in the region: India and Saudi Arabia’s arch-rival Iran -- both bordering Pakistan -- have accused Islamabad of backing militant groups which have carried out bloody suicide attacks on their soil in recent days.