Total provisional external inflows from multiple financing sources were $6.730 billion during July-March of fiscal year 2019-20 i.e. 52 percent of the budgeted $12.958 billion for the entire fiscal year, it is learnt.
The Economic Affairs Division (EAD) has not been releasing the monthly disbursement figures of loans and grants since December 2019.
However, according to official documents available with Business Recorder the external inflows during July-March 2018-19 of $8.167 billion were higher compared to the comparable period in the current year by $1.437 billion.
The government budgeted foreign assistance of $12.957 billion for the current fiscal year included $2 billion foreign commercial loans. The documents reveal that the government has already procured $1.798 billion from foreign commercial banks against 3.147 billion during the same period last year - around 26 percent of the total external loans of $6.730 billion procured during the first nine months (July-March) of 2019-20.
Dubai Bank disbursed $563.85 million, Ajman Bank $155.61 million, the consortium-led by Suisse AG, UBL and ABL $205 million, Citibank disbursed $148.19 million, China Development Bank $700 million and Standard Chartered Bank (London) $26.50 million.
ADB disbursed $2.222 billion against $1.1 billion budgeted for the current fiscal year, Islamic Development Bank $781 million out of the total of $1.1 billion budgeted for the entire fiscal year and World Bank $363 million. Amongst bilateral sources, the leading donors were China ($460 million), UK ($128 million), Korea ($94 million) and USA ($50 million).
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