ISLAMABAD – Pakistan and Saudi Arabia on Friday signed consultancy service contracts worth $121 million to push forward major health and energy initiatives, marking another step in Riyadh’s continued support for Islamabad’s development agenda.
At a ceremony in the federal capital, Saudi Ambassador Nawaf bin Said Al-Malki underscored the Kingdom’s firm commitment to Pakistan’s progress. He noted that the projects would not only provide essential services but also help stimulate economic activity and improve living standards.
The agreements, backed by the Saudi Fund for Development (SFD), cover three key ventures: the King Salman Hospital in Islamabad’s Tarlai area, and two hydropower projects Shounter and Jagran in Azad Jammu & Kashmir.
According to details, the King Salman Hospital will be established with a $20 million grant from Saudi Arabia. Meanwhile, the Shounter and Jagran hydropower projects will be financed through concessional loans of $66 million and $35 million, respectively.
Officials said the projects are expected to ease the pressure on Pakistan’s healthcare system, expand access to clean energy in AJK, and create new opportunities for growth in underdeveloped regions.
