ISLAMABAD: Pakistan has borrowed $13.539 billion loans as well as grants in the first eleven months of the current fiscal year.
The Economic Affairs Division (EAD) data shows that Pakistan has received $13.539 billion loans as well as grants in the first eleven months against the total budgeted external loans of $14.088 billion for the entire fiscal year. The government borrowed $505.65 million from multiple financing sources in May 2022.
The total receipt of $13.539 billion constitutes $4.254 billion from multilateral, $593.31 million from bilateral, $2.623 billion from foreign commercial banks, $2.041 billion from issuance of bonds and $3 billion from time deposits from Saudi Arabia.
The non-project aid was $ 10.503 billion including $9.181 billion for budgetary support and project aid was $2.009 billion.
Guaranteed loans were $ 1.026 billion during the first eleven months of 2021-22.
The government borrowed $ 2.623 billion from foreign commercial banks during the first eleven months of the current fiscal year including $ 1.140 billion from Dubai Bank, $ 487.26 million from SCB (London), $ 61 million from Ajman Bank PJSC, $ 343.50 million from Suisse AG, UBL and ABL and $ 591.25 million from Emirates NBD.
It is pertinent to note that the government in budget 2021-22 estimated to borrow $14.088 billion foreign assistance including $13.871 billion in loans and $217.44 million in grants from multilateral and bilateral sources.
