Foreign assistance Country provisionally receives 98 percent of budgeted estimates

The country provisionally received $7.91 billion ie 98 percent of budgeted estimates of foreign assistance from multilateral and bilateral donors during the first nine months of the current financial year 2017-18.
The country received $5.3 billion during the same period (July-March) of 2016-17.
The Economic Affairs Division (EAD) data revealed that government did not borrow from foreign commercial banks in March 2018. The government has signed short-term commercial loan agreements of $1.963 billion in the current fiscal year 2017-18 so far with different foreign banks of which $1.72 billion have been received against the budgeted $1 billion for the entire current fiscal year.
The government budgeted foreign assistance of $8.094 billion for 2017-18 including $7.692 billion loans and $401.78 million grants. EAD data shows that assistance of $330.31 million was received in March from multilateral and bilateral donors.
China disbursed $1.215 billion in the current fiscal year (July-March) 2017-18 (including $ 61.8 million in March) against the budgeted $1.595 billion for the entire year. China released $51.42 million for Havelian-Thakot KKH under the China-Pakistan Economic Corridor (CPEC) in March, $7.05 million for the Neelam Jehlam hydropower project and $3.32 million for the cross boarder optical fibre cable project.
Asian Development Bank (ADB) disbursed $621.1 million in the current fiscal year 2017-18 so far including $70.2 million in March against the budgeted estimates of $1.221 billion, International Bank for Reconstruction and Development (IBRD) $129.84 million including $31.15 million in March against the estimated $60.65 million, IDB (S-Term) $949.56 million including $75.6 million in March against the estimated $1.550 billion, Asian Infrastructure Investment Bank (AIIB) $19.51 million, International Development Association (IDA) $240.09 million including $19.51 million in March against $975.27 million, Islamic Development Bank (IDB) $55.77 million, Japan $81.95 million, Saudi Arabia $40.24 million, UK released $155.58 million of grant, and USA released $76.59 million in the current fiscal year 2017-18 including $33.63 million in March against the budgeted estimates of $117.56 million.
The government has received no assistance from Italy and UNDP during the current fiscal year (July-March) 2017-18. 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. The government procured $500 million commercial loans from Industrial and Commercial Bank of China Limited (ICBC) in October 2017.
The government had signed 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.