November 27, 2019 (MLN): Pakistan has acquired around $1.53 billion as foreign economic assistance during Jul-Oct FY20 from multiple 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 $1.06 billion.
ADB emerged as the primary lender within the multilateral group, as it disbursed loans approximately $563.04 million to Pakistan during Jul-Oct FY20. While it gave economic assistance as conditional grants of $10.86 on projects of Motorway M-4 Gojra-Sorkot and National Highway Network Development program N-50 & N-70.
The second highest source of multilateral financing is IDB (S-term) with the assistance of $303.68 million during the said period.
On the other hand, the collective disbursement from bilateral donors amounted to $473.18 million during the aforementioned period. Within this category, China emerged as the greatest source of assistance during the period, with a loan of $295.24 million. Whereas the grant from the UK valued at $106.69 million.
All in all, Pakistan received nearly $2.52 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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