Pakistan Received $468 Million in Foreign Assistance & Loans in July 2018

The country provisionally received over $468.31 million of budgeted foreign assistance in the first month (July) of current financial year 2018-19 against $265.73 million during the same period last year (2017-18).

The PML-N government had estimated foreign assistance of $9.69 billion for 2018-19 including $394.34 million grants and $9.297 billion loans, as shown in the Economic Affairs Division (EAD) data.

The country received $11.486 billion against the budgeted assistance of $8.094 billion for 2017-18 including $3.716 billion from foreign commercial banks.

According to the latest figures, Pakistan provisionally received $468.31 million including $439.17 million in loans and $29.14 million in grants in July.

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The previous government had budgeted estimates of $2 billion from commercial banks for 2018-19. Pakistan received $70 million worth of two commercial loans from Noor Bank PJSC and consortium-led by Suisse AG, UBL, ABL. Noor Bank disbursed $20 million in July out of a total committed amount of $130 million.

The Suisse AG also disbursed $50 million out of its total commitment of $750 million.

Asian Development Bank (ADB) disbursed $27.45 million in July against the budgeted estimates of $1.38 billion.

The country received $289.91 million from China in July against the budgeted estimate of $840.99 million. This amount includes $166 million for the Orange Line Metro Project, $94.86 million for the Sukkur-Multan section of China-Pakistan Economic Corridor’s (CPEC), and $21.85 million for Havelian-Thakot road of CPEC.

USA disbursed $14.20 million, International Development Association (IDA) $23.14 million, France $10.97 million, Kuwait $3.07 million, Saudi Arabia $16.5 million, UK $9.19 million and Germany $1.58 million in July.