Pakistan receives $731m external financing in March

May 09, 2026 (MLN): Pakistan secured external financing worth $731.30m in March 2026 from multiple financing sources, approximately 5.7% higher than the previous month.

Cumulatively, in 9MFY26 (July–March), the country managed to secure $6.59bn in external financing, the latest monthly report by the Economic Affairs Division (EAD) showed.

Going into details made available by EAD, disbursements from bilateral and multilateral development partners totalled $339.84m in March and $3.75bn during 9MFY26.

Foreign assistance obtained through multilateral sources totalled $214.20m in March and $2.58bn in 9MFY26.

Financing through bilateral development partners stood at $125.64m in March and $1.17bn in 9MFY26.

The International Development Association (IDA) emerged as the leading multilateral contributor in March, disbursing $111.39m, with cumulative Jul–Mar disbursements climbing to $829.10m.

The Asian Development Bank (ADB) posted a significant disbursement of $64.26m in March, raising its nine-month cumulative total to $727.01m. ADB's continued engagement reflects its sustained commitment to infrastructure and development initiatives across multiple provinces.

The International Bank for Reconstruction and Development (IBRD) disbursed $25.68m in March, bringing its cumulative Jul–Mar disbursements to $376.36m, primarily in support of power sector and urban development projects.

The Asian Infrastructure Investment Bank (AIIB) contributed $12.75m in March, with its cumulative Jul–Mar total reaching $88.86m.

Among bilateral donors, Saudi Arabia again recorded the most significant March disbursement, contributing $100m during the month and bringing its cumulative nine-month total to $910.43m the largest among all bilateral partners.

France disbursed $15.56m in March, lifting its Jul–Mar cumulative to $47.72m. Germany contributed $6.22m in March, with its cumulative Jul–Mar total reaching $12.09m. Japan disbursed $3.86m in March, bringing its cumulative nine-month total to $23.27m.

China recorded no fresh bilateral loan disbursement in March, keeping its bilateral cumulative total unchanged at $72.28m.

Separately, China's guaranteed loan facility recorded a notable disbursement of $123.40m in March, raising the cumulative Jul–Mar total under this channel to $392.82m.

Foreign commercial borrowing through the Naya Pakistan Certificate (NPC) scheme amounted to $268.06m in March 2026, comprising $101.35m under the conventional facility and $166.70m under the Islamic facility, bringing the cumulative NPC total to $2.04bn for July–March.

In terms of the purpose of financing, non-project aid in March amounted to $379.20m, including $268.06m in budgetary support and $100m through the SFD Oil Facility, showcasing continued reliance on programme-based inflows to support macroeconomic stabilisation.

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