In its bid to tackle various challenges faced by the cash-strapped country on the economic front, Prime Minister Shehbaz Sharif-led incumbent government has secured $1.72 billion in foreign loans from multilateral and bilateral creditors during the first four months (July-October) of the current fiscal year, The News reported on Wednesday.
The government’s borrowing figures come despite the absence of international bond issuances or deposit rollovers so far.Islamabad projects $19.39 billion in foreign loans from multilateral and bilateral creditors in ongoing fiscal year
arison, Pakistan received $4.25 billion in foreign loans during the same period last fiscal year (2023–24).
For the current fiscal year, Islamabad has projected $19.39 billion in foreign loans from multilateral and bilateral creditors.
This includes $9 billion in foreign deposits — $5 billion from Saudi Arabia and $4 billion from China — as well as $1 billion from an international bond issuance.
According to data from the EAD, Pakistan received $259 million from bilateral creditors during the first four months of the fiscal year.
Key contributions include China ($97.58 million), France ($89.64 million), Germany ($11.29 million), Japan ($9.71 million), Korea ($7.59 million), Saudi Arabia ($6.35 million) and the US ($37.32 million).
Multilateral creditors disbursed $721 million during the same period.
Significant contributors include the Asian Development Bank ($173.05 million), the Asian Infrastructure Investment Bank ($17.41 million), the World Bank ($266.64 million) under IDA (concessional loans) and $97.19 million under IBRD, Islamic Development Bank’s $100 million (short-term loan) and $50.41 million, IFAD $15.56 million, OPEC Fund $0.75 million.
In addition, the government secured $200 million through commercial loans and $547 million through the Naya Pakistan Certificates during the first four months of the current fiscal year.