Saudi Arabia and the UAE have intimated to the International Monetary Fund (IMF) on financing to Pakistan, the South Asian country’s Finance Minister Ishaq Dar told ARY News channel.

Saudi Arabia and the UAE have confirmed the provision of $2 billion and $1 billion, respectively, to Pakistan, he told the news channel on Monday.

Dar stated that all preconditions for a staff-level agreement (SLA) between Pakistan and the IMF have now been implemented, expecting the IMF will soon sign the deal and get approval from its executive board.

In March, Pakistan’s finance minister held a virtual meeting with World Bank’s South Asia Vice President Martin Raiser.

The minister informed him of the completion of World Bank-supported reforms, especially those supported under the Resilient Institutions Strengthening Programme-II, under which significant reforms such as harmonisation of goods and services tax (GST) had been completed.