Pakistan receives US $ 13.12 billion foreign loan in outgoing fiscal year (EAD report)



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

Monthly report Foreign economic aid released by the Economic Affairs Division indicated that the country had received more than US $ 3 billion in multilateral and bilateral loans.

The report pointed out that the Asian Development Bank (ADB) provided the country with the bulk of the financial assistance amounting to $ 1.28 billion.

417 million rupees were received under the bilateral agreements, according to the EAD report, adding that loans of 3.6 billion US dollars have also been given to the government by commercial banks.

Over the past month, EAD said in its report that Pakistan received foreign loans amounting to US $ 10.19 billion in the first ten months of fiscal year 2020-2021.

During the July-April period, Pakistan received US $ 3.1 billion under mutual agreements, he said in his monthly disbursement. report adding that most of the loans came from the Asian Development Bank (ADB) which amounts to $ 1.26 billion.

Read more: “The Chinese loan represents 11% of foreign debt”

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

“The country also sold its bonds worth US $ 2.5 billion during the period of July and April 2020,” the division said, as the country is required to publicly share loan numbers in under an agreement with the International Monetary Fund (IMF).

He said a foreign loan of US $ 3.25 billion had also been received from commercial banks.

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