ISLAMABAD: The Economic Affairs Division (EAD) has released details of foreign loans and grants received by Pakistan in the five months from July to November 2024, amounting to $3.57 billion.
The figure includes the first installment of $1 billion under the International Monetary Fund (IMF) program.
According to the EAD, foreign funding during this period saw a 43% decline compared to the previous year. Despite this drop, the government expects financial assistance to accelerate in the coming months, with an estimated $24 billion in total foreign funding projected for the fiscal year.
Key contributions
- IMF Program: $1 billion from the IMF as part of the agreed financial support program.
- Asian Development Bank (ADB): $767 million in financial assistance.
- Naya Pakistan Certificate: Investments worth $735 million were received under this scheme.
- World Bank: A concessional loan of $305 million was provided.
- China: Extended $98 million in assistance, including a deferred loan of $200 million.
- France: Contributed $89 million.
- United States: Provided $38 million in funding.
The EAD report highlights the likelihood of significant loan rollovers and additional funding. China, Saudi Arabia, and the UAE are expected to roll over loans amounting to $12 billion. Saudi Arabia is also anticipated to provide oil on loan worth $1.2 billion.
