Pakistan returns $1b of Saudi Arabia’s soft loan

Pakistan has returned $1 billion to Saudi Arabia as a second instalment of a $3 billion soft loan, as Islamabad reaches out to Beijing for a commercial loan to help it offset pressure to repay another $1 billion to Riyadh next month, officials said on Wednesday. Islamabad had returned $1 billion in July. Saudi Arabia gave Pakistan a $3 billion loan and a $3.2 billion oil credit facility in late 2018. After Islamabad sought Riyadh's support over alleged human rights violations by India in the disputed territory of Kashmir, Saudi Arabia has pushed Pakistan to repay the loan.

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