Saudi Prince Mohammed bin Salman begins Pakistan visit with $20 billion pact

New Delhi : Saudi Arabia and Pakistan on Sunday signed a pact worth $20 billion for investments in cash strapped South Asian country.

Prince Mohammed bin Salman and Pakistan PM Imran Khan inked seven agreements and Memorandums of Understanding (MoUs), hoping to relieve its teetering economy.

Saudi Arabia’s Mohammed bin Salman was welcomed in Pakistan with a booming 21-gun salute on Sunday.

The crown prince, widely known as “MBS”, launched his diplomatic trip in the capital Islamabad. He was warmly embraced by Pakistani Prime Minister Imran Khan and powerful army chief General Qamar Javed Bajwa as he stepped onto a red carpet flanked by an honour guard at a military airbase near Islamabad.

Prince Salman's visit was delayed by a day amid high tension between India and Pakistan over killing of 40 CRPF personnel by a Pakistan-backed Jaish e Mohammad terrorist outfit.

MBS will travel to India after his Pakistan visit, where he will meet Prime Minister Narendra Modi and Petroleum Minister Dharmendra Pradhan.

He is expected to finish the trip with a visit to China on Thursday and Friday.