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Home »Business and Economy » Pakistan » $1.62 billion borrowed in July-August: EAD
Pakistan has borrowed $ 1.62 billion (Rs 258.6 billion) from external resources during the first two months of the current fiscal year (July-August) with $1.489 billion loans, including commercial loans of $321 million, as well as $132 million grants.

Summary of the disbursement for the first two months of the Economic Affairs Division revealed that the government's borrowing from commercial banks stood at $321 million during the first two month with $148.19 million from Citi Bank (ST), $123.31 million from Dubai Bank and $ 50 million from SUISSE AG, UBL and ABL. The commercial borrowing in rupee terms was Rs 51.657 billion in July-August 2019-20.

Total disbursement to Pakistan by multilateral stood at $ 918.689 million during the first two months of the current fiscal year which included $896 million loans and $22.59 million grant.

The Asian Development Bank (ADB) disbursed $528.77 million to Pakistan during the first two months which was the highest and included $519.9 million loan and $8.89 million grant followed by $285.21 million loan disbursement by IDB (ST) and $21.64 million loan by IFAD, while disbursement of loan from the IDA was $65 million.

Total disbursement both grant and loan in Pakistani rupee from multilaterals stood at Rs 145 billion during the first two months of the current fiscal year.

Bilateral disbursement to Pakistan remained $382.05 million during the first two months of the current fiscal year with $109 million grant and $272 million loans. Pakistan was disbursed $158.30 million by China, ostensibly for China-Pakistan Economic Corridor project, $108 million loan from Saudi Arabia and $5.73 million loan from Japan.

Pakistan received $80 million grant from UK and $11.90 million grant from the US during the first two months of the current fiscal year. Pakistan received $6.58 million grant from Germany and $10.21 million grant from Japan during the same period.

Copyright Business Recorder, 2019


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