ISLAMABAD: Pakistan on Friday received third tranche of $1 billion from Saudi Arabia, State Bank of Pakistan has confirmed.

The latest transfer comes a day after the United Arab Emirates deposited the first installment amounting to $1 billion of a $3 billion financial support package in the State Bank.

The deposit completes the $3 billion package that Pakistan signed with Saudi Arabia aimed at helping the country avert a balance-of-payment crisis. The kingdom had deposited $2 billion in Pakistans central bank earlier.

Amount was received under an agreement signed on January 22, 2019 by Governor SBP Tariq Bajwa and Director General of Abu Dhabi Fund for Development.