Pakistan received $3.7bn worth of grants, loans during COVID-19: Senate body informed

ISLAMABAD: The Senate Standing Committee on Planning, Development and Special Initiatives was informed on Monday that Pakistan received US$3.7 billion worth of grants and loans from various countries to support the country’s corona relief efforts.

The senate standing committee meeting was held here under the chairmanship of Senator Agha Shahzaib Durrani.

The meeting was further informed that out of total an amount of $73.99 million had been disbursed to the concerned institutions and authorities.

During the meeting, it was informed that the European Union provided a grant of $57 million while the United States, Japan, Asian Development Bank (ADB), China, and UK dispatched the grants of $31 million, $28 million, $7 million, $4 million, and $3 million respectively.

Similarly, the meeting was informed that for various health related projects Pakistan also received loans from different countries and institutions.

The World Bank provided a loan of $500 million, ADB $350 million, Islamic Development Bank $70 million, OPEC Fund $50 million, and French AFG provided $51 million.

The committee was told that out of total loans, an amount of $380 million was disbursed among the provinces for different projects.

Meanwhile, the meeting was also briefed on the budgetary support under which the International Monetary Fund provided $1.386 billion, ADB $500 million, and the Asian Infrastructure Investment Bank dispatched $750 million.

The meeting was informed that under the head of budgetary support, the country received $2.636 billion in total and all amounts had been utilized.

The meeting was further told that the funds were received in the State Bank of Pakistan account from where the money was disbursed to the concerned agencies.

The Chairman of the committee asked the concerned official to provide detail of medical equipment received by the government from various international agencies and country during COVID-19 in next meeting.

The meeting was also attended by Senators Mir Kabeer Ahmed Muhammad Shahi, Muhammad Usman Kakar, Rana Maqbool Ahmed, Engineer Rukhsana Zuberi, and Dr Ghous Muhammad Khan Niazi.