ISLAMABAD: Pakistan received $4.21 billion from multilateral and bilateral donors in first eight months (July-February) of current fiscal year.
According to the latest data released by the Economic Affairs Division (EAD), the received amount is 50 per cent less as the government had estimated to receive $9.18 billion loans from both multilateral and bilateral donors during the current fiscal year. The major part of $4.21 billion constitutes government’s massive borrowing from the foreign commercial banks worth $973 million from July 2015 to February 2016.
As per the government’s budget, only $200 million were to be borrowed from the commercial banks in the entire FY (July 2015 to June 2016).
The country received $676.63 million from the Asian Development Bank (ADB) during July-February against the budgeted estimates of $1020.4 million. Meanwhile, the country received $9.9 million from China in February, bringing the total disbursement to $576 million in the current FY.
According to the EAD figures, International Development Association (IDA) disbursed $43.3 million in February, bringing the total disbursement to $656.25 million. The UK released $90.11 million in February, bringing the total disbursement to $251.02 million in the current financial year.
Moreover, the US disbursed $14.78 million, International Bank of Reconstruction and Development (IBRD) $16.14 million and IDB $25.75 million in February, bringing the total disbursement to $114.39 million, $56.49 million and $81.45 million, respectively. Kuwait has disbursed $43.52 million, Germany $31 million, IDB (S-Term) $511 million in the current fiscal year. The government has received no assistance from Australia, EU, Italy, Norway and UNDP during the eight months of current fiscal year.
