Saudi Arabia to invest $20 billion in Pakistan

ISLAMABAD: Saudi Arabia and Pakistan signed a raft of investment deals Sunday worth up to $20 billion for the cash-strapped south Asian country, as Saudi crown prince Mohammed bin Salman launched his Asia tour seeking to emerge from the Khashoggi affair.

Pakistan is facing a serious balance of payments crisis and hopes the deals — seven separate agreements and Memorandums of Understanding — will provide welcome relief to its teetering economy.