In an expected development, the State Bank of Pakistan (SBP) and Saudi Fund for Development (SFD) on Monday signed a deposit agreement for the much-awaited funds worth $3 billion. According to a joint statement, under this deposit agreement, SFD shall park $3 billion in the SBP. “The deposit amount under the agreement shall become part of SBP’s foreign exchange reserves,” it said.The central bank added that the deposit would help support Pakistan’s foreign currency reserves and “contribute towards resolving the adverse effects of the COVID-19 pandemic. “The deposit agreement was signed by SFD Chief Executive Officer H E Sultan Bin AbdulRahman Al-Marshad and the SBP Governor Dr Reza Baqir at