ISLAMABAD: The federal government received more than $5 billion loans from the international lenders during the first six months of current fiscal year.
The government took $4.15 billion from the multilateral and bilateral donors and around $1 billion from the International Monetary Fund (IMF) during July-December 2015. The PML-N government is heavily relying on foreign loans since coming into power in June 2013.
The Asian Development Bank (ADB) disbursed $607.4 million, or 59.5 percent of the annual estimated foreign economic assistance of $1.02 billion, during first six months of the FY2016.
China had given assistance worth $561.4 million to Pakistan against the yearly estimates of $3.04 billion. Pakistan had taken massive loans of $956 million from the consortium of the commercial banks during July-December as the government initially planned to get $200 million from these banks during entire current financial year.
International Bank for Reconstruction and Development (IBRD) provided $36.19 million as loan. The International Development Association (IDA) of the World Bank released $594.89 million, which is 34.4 percent of the annual loan $1.73 billion to be released during July 2015 to June 2016. The Islamic Development Bank disbursed $39.29 million to the government of Pakistan during first six months of the present financial year.
Meanwhile, the government also received $21.67 million from Germany, $26.52 million from Japan, $36.7 million from Kuwait, $247.2 million from United Kingdom, $80.86 million from United States during July-December of the year 2015-16.
