Pakistan incurred a foreign debt of around $16.9 billion from multiple financing sources in FY 2021–22 against a total budgeted external loan of $14.088 billion for FY 2021–22.
Data from the Economic Affairs Division (EAD) shows that the country received $3.434 billion from multiple financing sources in June 2022, including $2.240 billion borrowed from foreign commercial banks.
The government had budgeted estimates of foreign assistance of $14.088 billion for FY 2021–22, comprising $13.871 billion in loans and $217.44 million in grants from multilateral and bilateral sources.
The external inflows during the corresponding period of FY 2020–21 were $14.282 billion, including $4.721 billion from foreign commercial banks against the budgeted amount of $12.233 billion.
The total receipt of $16.974 billion comprises $4.828 billion from multilateral, $708.08 million from bilateral, $4.863 billion from foreign commercial banks, $2.041 billion from the issuance of bonds, and the $3 billion deposit from Saudi Arabia.
The non-project aid was $13.220 billion, including $11.861 billion for budgetary support, and project aid was $2.221 billion. Additionally, the guaranteed loans during FY 2021–22 were $1.532 billion.
The government borrowed $4.863 billion from foreign commercial banks during FY 2021–22, including $1.140 billion from Dubai Bank, $487.26 million from Standard Chartered Bank (SCB) London, $61 million from Ajman Bank PJSC, $343.50 million from Suisse AG, United Bank Limited (UBL), and Allied Bank Limited (ABL), $591.25 million from Emirates NBD, $52.32 million from ECO.T/Bank, and $2.240 billion from China Development Bank (received in June).
Among multilateral development partners, mainly the Asian Development Bank, provided $1.625 billion against the projected $1.479 billion, the World Bank disbursed $1.579 billion against the budgeted $2.366 billion, the Asian Infrastructure Investment Bank (AIIB) $41.62 million, the Islamic Development Bank (IDB) $78.98 million, and the IDB (S-Term) $1.327 billion.
China disbursed $162.60 million in FY 2021-22 against the budgeted $69.66 million; the USA, $69.82 million; Korea, $5.51 million; the UK, $16.01 million; and Germany, $16.68 million; and Saudi Arabia $401.09 million; including $100 million in June for the imports of oil products.
