Saudi Arabia intends to place $5 billion in the Central Bank of Turkey through the Saudi Development Fund (SFD) after an agreement reached with the Turkish side.
Turkey’s foreign exchange reserves lost about $8.5 billion after a major earthquake hit the country’s southern regions in early February.
On February 24, the net reserves of the Turkish Central Bank fell to $20.2 billion.
The Saudi testimony comes after a joint effort by Ankara and Riyadh to improve their relationship, which was tainted by the murder of Saudi journalist Jamal Khashoggi in 2018 at the Saudi Arabian consulate in Istanbul.
Source: APE-MPE, Reuters, Anadolu.
Source: Kathimerini
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