By The Straits Times | Created at 2024-10-29 22:23:00 | Updated at 2024-10-30 07:23:57
2 days ago
Updated
Oct 29, 2024, 06:08 PM
Published
Oct 28, 2024, 02:20 PM
ISLAMABAD - Pakistan, facing deep political instability and an economic crisis, secured a crucial US$2.2 billion (S$2.9 billion) investment from Saudi Arabia in October, as the kingdom ramped up its financial support to its troubled South Asian ally.
The move, which coincides with rising tensions in the Middle East, in particular the Iran-Israel conflict, also speaks to Pakistan’s strategic importance, bordering as it does Iran, Afghanistan and China to its west, north and east.
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