Pakistan acquires $1.63 billion as foreign assistance via bilateral and multilateral sources during Jul-Nov FY20

December 23, 2019 (MLN): Pakistan has acquired around $1.63 billion as foreign economic assistance during Jul-Nov FY20 from bilateral and multilateral sources.

According to the details provided by the Economic Affairs Division (EAD), foreign assistance obtained by Pakistan through multilateral sources during the period totalled $1.14 billion.

Asian Development Bank (ADB) emerged as the primary lender within the multilateral group, as it disbursed loans approximately $591.48 million to Pakistan during Jul-Nov FY20. While it gave economic assistance as conditional grants of $15.25 on projects of Enhancing Public-Private Partnership in Sindh, Motorway M-4 Gojra-Sorkot and National Highway Network Development Program N-50 & N-70.

The second highest multilateral financer is IDB (S-term) with the assistance of $351 million during the said period.

On the bilateral front, the collective disbursement from donors amounted to $489.29 million during the aforementioned period. Within this category, China appeared as the greatest source of assistance during the period, with a loan of $298.14 million. Whereas the UK granted the amount pegged at $113.14 million. 

All in all, Pakistan received nearly $2.96 billion worth assistance after taking into account loans from multilateral, bilateral, Saudi Arabia-Short term loans as well as Commercial Banks.

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