Pakistan receives $4.9b in eight months

Pakistan received a total of $4.9 billion from foreign sources during the first eight months of the current fiscal year (July to February), while $2.4 billion was received from aid agencies during the same period, according to officials from the Economic Affairs Division. As per details of foreign aid and loans, Pakistan had set a target of obtaining $19.2 billion from external sources for the fiscal year (July to June). However, from July to February, the country received $4.9 billion in foreign assistance. Officials further stated that from July to February $330 million was borrowed from donor countries with France providing the highest amount of $100 million. China contributed $99 million; the United States provided $40 million and Saudi Arabia extended $12.3 million. $500 million was borrowed from commercial banks and $1.3 billion was obtained through Naya Pakistan Certificates. The Asian Development Bank (ADB) provided $1.09 billion; the World Bank extended a loan of $890 million while Chinese banks collectively provided $300 million in loans.

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