Ammon News - Saudi Arabia has deposited $5 billion at the Central Bank of Turkey through the Saudi Fund for Development.

Ahmed Al-Khateeb, the kingdom's Minister of Tourism and chairman of the Saudi Fund for Development, signed an agreement with the governor of the Central Bank of Turkey, Sahap Kavcioglu, the fund said on Monday.

The deposit was made on instructions of King Salman and Crown Prince Mohammed bin Salman.

The deposit is "a testament to the close co-operation and historical ties" between the two countries and of Saudi Arabia's "commitment to supporting Turkey's efforts to strengthen its economy and to promote social growth and sustainable development", the fund said.

The deposit will helps bolster the Turkish economy and reflects Saudi Arabia's "strong support for the Turkish people and its confidence in the future of the Turkish economy".