$0.43 billion more foreign loans received in 5 months

The country provisionally received $0.43 billion more foreign loans during the first five months of the current year in comparison to the corresponding period last year due to the issuance of Sukuk bonds of one billion dollars (at a rate of 5.5 percent) and $900 million short term loans from commercial banks.
According to Economic Affaires Division (EAD) data, the country received $3.13 billion of budgeted estimates of foreign assistance in the current financial year (July-November) compared to $2.7 billion during the same period of last fiscal year. The government has budgeted foreign assistance of $7.998 billion for 2016-17 including grants and loans against $9.18 billion budgeted for 2015-16. The budgeted estimates include a significant amount of $2.005 billion from commercial banks for 2016-17.
The country borrowed $200 million from Noor Bank PJSC for budgetary support in the month of September against the committed $100 million. However this loan was not budgeted for the current financial year. The government has also borrowed $700 million from China Development Bank as non-project aid during the month of September. The country had budgeted $2.005 billion from China Development Bank for the 2016-17, so reveal documents.
The latest figures show that the country provisionally received $3 billion in loans and $123 million grant in the current fiscal year. Pakistan received $484.36 million from China in the first five months of current fiscal year against $451.58 million during the same period of last year. The country had budgeted $572.3 million from China for the current financial year.
Asian Development Bank (ADB) disbursed $202.03 million in the current financial year including $59.22 million in the month of November against the budgeted estimates of $1048.2 million. IDB(S-Term) disbursed $212.4 million, US $29.10 million, International Bank for Reconstruction and Development (IBRD) $60.86 million, International Development Association (IDA) $54.54 million, UNHCR $0.41 million, IDB $29.63 million and Japan $42.8 million in the current financial year. The government received no assistance from EU, France, Korea, Norway, Oman, Saudi Arabia, UNDP and Organisation of the Petroleum Exporting Countries (Opec) during the period under review.