Islamabad : Saudi Arabia, the new entrant to the China-Pakistan Economic Corridor (CPEC), has inked grant agreements with Pakistan to finance three road infrastructure and energy projects under the $50 billion CPEC, according to media reports.

The two sides also signed three agreements worth $16.1 million for financing projects in health and education sectors in Pakistan-occupied Kashmir (PoK) and Khyber Pakhtunkhwa.

The agreements were sign­ed by the Saudi envoy and the officials of Pakistan’s finance ministry on Thursday when Chairman of the Saudi Fund for Development, Ahmad Agil Al-Khateeb, visited Pakistan with a six-member delegation.

The aide to Saudi Arabia’s Crown Prince Mohammad bin Salman made an unscheduled stopover in Islamabad on Thursday, raising prospects of a multi-billion-dollar Saudi Arabian bail­out package for cash-starved Pakistan, said the media.

Saudi Arabia gave a grant of $10 million for furnishing the King Abdullah bin Abdulaziz campus of a university in PoK, the Express Tribune reported. “These agreements have been inked in line with the understanding reached during Prime Minister Imran Khan’s recent visit to Saudi Arabia,” Information Minis­ter Fawad Chaudhry told a Press meet.

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