Islamabad:Pakistan said it secured $3 billion in financial support from Saudi Arabia, helping to bolster its foreign exchange reserves and offset a loan repayment the country will make to the United Arab Emirates.

Saudi Arabia has committed additional funds with "disbursement expected in the coming week," Pakistan's Finance Ministry said in a statement Wednesday, citing its minister Muhammad Aurangzeb.

It also extended an existing $5 billion deposit, which will no longer be subject to the earlier annual rollover arrangement.

"This support comes at a critical time for Pakistan's external financing needs and would help reinforce foreign exchange reserves and strengthen the country's external account," according to the statement.

Nuclear-armed Pakistan and Saudi Arabia signed a mutual defense pact last September, stating that "any aggression against either country shall be considered an aggression against both."

The two countries have had several meetings about the pact since Iran began retaliatory attacks against its Middle East neighbours, including Saudi Arabia.

On Friday, Saudi Arabia's Finance Minister Mohammed Al-Jadaan was in Islamabad for talks with Pakistani officials, a day before Islamabad hosted high-stakes weekend peace talks between the US and Iran.

Source:Ndtv