Current fiscal year: Country receives $9.6 billion foreign aid in first 10 months: EAD data

The country provisionally received $9.6 billion of foreign assistance in first ten months (July-April) of the current fiscal year and surpassed the budgeted estimates of $8.09 billion for the entire fiscal year 2017-18. The Economic Affairs Division (EAD) data revealed that government borrowed $1.2 billion from foreign commercial banks in April, bringing the total to $2.922 billion under this head in the current fiscal year against the budgeted $1 billion.
The government has signed short-term commercial loan agreements of $3.163 billion in 2017-18 so far with different foreign banks of which $2.922 billion have been received so far against the budgeted $1 billion for the entire current fiscal year.
The government procured $1 billion from China Development Bank and $200 million from Bank of China in April. The government procured $500 million commercial loans from Industrial and Commercial Bank of China Limited (ICBC) and $32.66 million from Standard Chartered Bank (SCB)-London in January 2018, and procured $500 million commercial loans from Industrial and Commercial Bank of China Limited (ICBC) in October 2017.
The government had signed an agreement for procuring $200 million commercial loans from Standard Chartered Bank (SCB)-London on October 31, 2017 and procured the entire amount including $32.66 million in January.
Further $255 million were procured from the Credit Suisse-led consortium of banks, in the current fiscal year 2017-18. The consortium consists of Credit Suisse AG, United Bank Limited and Allied Bank Limited. The country procured $267 million commercial loans from Citibank for budgetary support and $55.86 million from Dubai Bank in the current fiscal year.
The government also generated $2.5 billion by issuing Eurobonds and Sukkuk bonds in the current financial year.
The government has budgeted foreign assistance of $8.094 billion for 2017-18 including $7.692 billion loans and $401.78 million grants. EAD data shows that foreign assistance of $1.62 billion was received in April from multilateral and bilateral donors.
China disbursed $1.503 billion in the current fiscal year (July-April) 2017-18 (including $228.51 million in April) against the budgeted $1.595 billion for the entire year. China released $110.98 million for Orange Line in Lahore, $64.38 million for Sukkur-Multan Motorway under China-Pakistan Economic Corridor (CPEC), $44.51 million for Havelian-Thakot KKH (CPEC) and $8.64 million for Pakistan Remote Sensing Satellite.
Asian Development Bank (ADB) disbursed $681.46 million in the current fiscal year 2017-18 so far including $57.51 million in April against the budgeted estimates of $1.221 billion, International Bank for Reconstruction and Development (IBRD) $173.62 million including $43.78 million in April against the estimated $60.65 million, IDB(S-Term) $987.22 million including $37.66 million in April against the estimated $1.550 billion, Asian Infrastructure Investment Bank (AIIB) $23.06 million, International Development Association (IDA) $252.77 million including $12.42 million in April against $975.27 million, Islamic Development Bank (IDB) $56.26 million, Japan $86.14 million, Saudi Arabia $44.65 million, UK released $169.85 million of grant, and USA released $88.11 million in the current fiscal year 2017-18 including $9.39 million in April against the budgeted estimates of $117.56 million.
The government received no assistance from UNDP during the current fiscal year (July-April) 2017-18.