Business Pakistan received $7.8bn so far in foreign assistance in current fiscal: EAD report

The country has received $7.76 billion so far in foreign economic assistance comprising both grants and loans in the current fiscal year (2022-23).

A report titled “Disbursement Report March 2022” and compiled by the Economic Affairs Division of the Finance Ministry showed that of $7.76bn, an amount of $4.02bn has been received from multilaterals, including the Asian Development Bank (ADB) and the European Union (EU), while $1.06 billion have been given by other countries.

Per the break-up of the report, Pakistan has received $1.17bn from the International Monetary Fund (IMF) so far, followed by $1.94 billion from the Asian Development Bank (ADB) and $1,1bn from the International Development Association (a member of the World Bank).

The Asian Infrastructure Development Bank (AIDB) has provided $546.75 million.

Among friendly countries, Saudi Arabia has provided the highest amount of foreign assistance of $100 million besides an oil facility of $782.28m. China has provided $54.93m followed by Japan at $34.19m, France $28.97m and the United States at $24.27m.

The Shehbaz-led government further received $900m in loans from commercial banks and $612.3m through Naya Pakistan Certificates (NPCs. 

Article source: https://www.nation.com.pk/22-Apr-2023/business-pakistan-received-dollar-7-8bn-so-far-in-foreign-assistance-in-current-fiscal-says-ead-report