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Middle East

The Latest: On sidelines of Saudi forum, Pakistan gets loan

Associated Press
Published | Updated
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    In this photo released by Saudi Press Agency, SPA, Saudi Crown Prince Mohammed bin Salman, right, shakes hands with Salah Khashoggi, a son, of Jamal Khashoggi, in Riyadh, Saudi Arabia, Tuesday, Oct. 23, 2018. Saudi Arabia, which for weeks maintained that Jamal Khashoggi had left the Istanbul consulate, on Saturday acknowledged he was killed there in a "fistfight." (Saudi Press Agency via AP)

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    In this photo released by Saudi Press Agency, SPA, Saudi King Salman, right, points to Salah, a son, of Jamal Khashoggi as Crown Prince Mohammed bin Salman, second right, looks on, in Riyadh, Saudi Arabia, Tuesday, Oct. 23, 2018. Saudi Arabia, which for weeks maintained that Jamal Khashoggi had left the Istanbul consulate, on Saturday acknowledged he was killed there in a "fistfight." (Saudi Press Agency via AP)

RIYADH, Saudi Arabia – The Latest on the killing of Saudi writer Jamal Khashoggi (all times local):

9:45 a.m.

Pakistan says Saudi Arabia will provide a $6 billion package of loans and deferred payments in an effort to resuscitate Islamabad's flagging economy, struggling under the weight of a whopping $18 billion deficit.

The deal was signed Tuesday by Pakistan's Finance Minister Asad Umar and his Saudi counterpart, Muhammad Abdullah Al-Jadaan, on the sidelines of an international investment forum underway in the kingdom.

Many international business leaders and officials had pulled out of attending the gathering in the wake of the slaying of Saudi journalist Jamal Khashoggi. Pakistan's new Prime Minister Imran Khan went to the conference despite rights activists' urging he boycott the venue over Khashoggi's killing.

Pakistan's foreign ministry said the Saudi aid gives Pakistan an immediate $3 billion to bolster its foreign exchange reserves. At the end of one year, it's to be returned to Saudi Arabia. Pakistan will also get $3 billion in oil imports on a buy-now-pay-later basis.

Separately from the Saudi influx, Pakistan is also seeking an IMF loan.

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8:50 a.m.

The Saudi crown prince is to make his first international speech since the killing of Washington Post columnist Jamal Khashoggi at the Saudi Consulate in Istanbul.

Mohammed bin Salman is to address the Future Investment Initiative summit in Riyadh on Wednesday afternoon.

The summit is the prince's brainchild, an effort to draw much-needed foreign direct investment into the kingdom to create jobs for its young population.

However, this year's summit has been overshadowed by the Oct. 2 killing of Khashoggi. Turkish officials say the writer was killed by a 15-man Saudi hit squad that included a member of Prince Mohammed's entourage on overseas trips.

Saudi Arabia has suggested, without offering evidence, that the team went rogue.

Many international business leaders have pulled out of attending the summit over Khashoggi's slaying.