Pakistan receives US$13.12 bn in outgoing FY, shares EAD report

ISLAMABAD: The economic affairs division on Saturday shared that Pakistan has received a foreign loan of US$12.13 billion in the outgoing fiscal year, ARY NEWS reported.

The monthly report of Foreign Economic Assistance released by the Economic Affairs Division shared that the country received over US$3 billion under multilateral and bilateral loans.

The report highlighted that Asian Development Bank (ADB) provided the country with most of the financial assistance that amounted to US$1.28 billion.

Rs417 million was received under the bilateral agreements, the EAD report said and added that US$3.6 billion loans were also given to the government by commercial banks.

During the last month, the EAD in its report said that Pakistan received foreign loans amounting to US$10.19 billion during the first ten months of the outgoing fiscal year 2020-21.

During the July-April period, Pakistan received US$3.1 billion under mutual agreements, it said in its monthly disbursement report adding that most of the loans have come from the Asian Development Bank (ADB) that stands at US$1.26 billion.

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The economic affairs division further said that mutual agreements with various countries also helped in receiving foreign loans of US$376 million.

“The country also sold out its bonds worth US$2.5 billion during the period of July and April 2020,” shared the division as the country is bound to share the loan figures publically under an agreement with the International Monetary Fund (IMF).

It said that a foreign loan of US$3.25 billion was also received from the commercial banks.