Pakistan Gets Another $728 Million Loan from ADB, WB

Pakistan’s government has received fresh installments of loans worth $728 million from Asian Development Bank and World Bank recently for the development of various projects of infrastructure in different cities.

According to State Bank of Pakistan, the central bank received an amount of $622 million from Asian Development Bank and an amount of $106 million from World Bank.

Besides inflows of loans worth $728 million, the foreign exchange reserved received an additional inflows of $ 227 on different accounts. Hence the country’s overall inflows were remarkably increased by $955 million during the outgoing week.

This is the biggest inflows since the commencement of the year 2017. Previously, the central bank received $550 million in March from USA on the account of Coalition Support Fund (CSF).  However, the central bank to pay off $2.5 billion to various foreign banks on the account of loans repayment along with its interest since the beginning of the calendar year.

The updated data stated that the foreign exchange reserves of the central bank stand at $16.37 billion. Forex reserves held by commercial banks stand at $ 4.98 billion.

Overall, Pakistan foreign exchange inflows surged to $21.35 billion as of June 23, 2017, up from $20.36 billion as of 16 June, 2017.

The dramatic fall and rise of foreign exchange reserves have been hallmark of the present government for the purpose of development, which has been came under harsh criticism by the independent economists due to rising level of overall foreign debts that crossed a mark of $75 billion in the recent months.

        • And IF it is only Punjab (which isn’t the case) then Pubjab is part of Pakistan, think a little above this please.

          All comments below lack any sense, writer even has not mentioned anything where these funds will be used. This government at least should be credit for the project underway, for paying debts on which Pakistan was paying interests up to 10% (new loans at low rates to pay off old loans with much higher interests rates, this is actually the case in many latest borrowing).

          • Ghalat Kiya Kaha ??? Pakistan K Tamam Provience City Dekh Lo : Specially Karachi :
            Kun Sa Proviance Or City Zaida Develop hai Starting se aj tak ???
            Awam Ko Pani Bijlee Gas Chahyeh Na K Green Bus Metro Bus Jaha Arbo Lagte hai

  • ye log apna wada pura kar rahe he jo inho ne bola tha ke hum Kashkol tor de ge, torane se pehale bikaion wali adat nahi jarahi mangane wali;

  • all they have filled their pockets, them and Zardari,if the people wake up now now ,they do not let them go out of the country until they bring everything back what they have looted from here.

    • WB and ADB are not sleeping , They know that Pakistan is progressing and they return it with interest . In-spite of all hurdle created by IK …… progress is there and they are giving LOANS .either you recognize it or NOT

      • Are you really so naive? They do this to have political influence over the borrower. If you are jobless and someone is regularly giving you loan to make your both ends meet, would you be able to say NO to him? Same is the case at international level.

    • Except those two flats (which they admitted) what more they have? I seriously want to know. There is no match of Zardari though, but you can’t compare both.

  • Well cheap loan should spent judiciously instead of wasting on luxurious outfit and appliances.and government officers should positive return on projects,at least 20% per annum.

  • Every asset of Pakistan has been mortgaged by the government to receive more and more loans.

  • PML(N)
    has increased the national debt of Pakistan by 35+ % in just 4 years.
    This means, it took us 66 years to accumulate 100 rupees debt and PML(N)
    “managed” to make it 135 rupees in just 4 years.

    Qarz ki peetay thay may, laikin samajhtay thay kah haan
    Rang lai gi humari faqa-masti aik din

    so-called “progress” that we see, like Metro, motorways, underpasses,
    etc. is nothing but a superficial gimmick to make it look like Pakistan
    is getting better. This government has wasted trillions of rupees and is
    now advertising that it saved billions. What a joke! Try saying this to
    your father “Dad, you should be proud of me. I saved 200 Rupees today
    when I came home by bus after getting your Honda crashed”.

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