Pakistan received $2.075 billion as loans and grants from multilateral and bilateral sources in the first quarter of the current fiscal year (2019-2020) compared to $1.042 billion last year.
This was revealed by the Economic Affairs Division (EAD).
The government budgeted foreign assistance of $12.957 billion for the current fiscal year, including $2 billion foreign commercial loans.
The country received $1.017 billion from multilaterals and $401.101 million bilaterally during July-September 2019-20. Another $141.73 million was received in Saudi oil facility in the current fiscal year out of a total of $3.2 billion.
China disbursed $261 million in the first three months of fiscal year 2019-20 including $91.46 million for the Havelian-Thakot road project, $122.64 million for the Sukkur-Multan motorway and $8.97 million for the Orange Line Metro project.
The Islamic Development Bank disbursed $303.68 million in the first three months out of a total of $1.1 billion budgeted for the current fiscal year. Asian Development Bank (ADB) disbursed $552.16 million, United Kingdom (UK) $93.94 million, World Bank $137 million, International Fund for Agricultural Development (IFAD) $23.31 million, USA $14.54 million and Japan $15.95 million in the first three months of current fiscal year.
According to EAD, the government borrowed $514.55 million from foreign commercial banks compared to $240 million during the same period of last year. Dubai Bank disbursed $193.05 million in September.
Citibank disbursed $148.2 million in August. The country borrowed $123.31 million from Dubai Bank out of total committed amount of $325 million and $50 million from a consortium of Credit Suisse out of its total commitment of $250 million in July.
Stay Connected with ProPakistani
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
