$3.2b received in financial assistance in July-Jan period

Pakistan received $2.408b from multilateral creditors, 794.6m from bilateral creditors during seven month period

ISLAMABAD:

Pakistan received $2.408 billion from multilateral creditors and another 794.6 million from bilateral creditors during the first seven months of the current fiscal year, according to the statistics released by the economic affairs ministry on Tuesday.

During the July-January period of fiscal 2023-24, the assistance from the multilateral partners, included $1.058 billion from the International Development Association (IDA), $508.34 million from the China National Aero-Technology Import and Export Corporation (CATIC), $620 million from the Asian Development Bank (ADB), $292.96 million from the Asian Infrastructure Investment Bank (AIIB), $125.98 million from International Bank for Reconstruction and Development (IBRD), $23.12 million from the International Fund for Agricultural Development (IFAD), $60 million and $200 million in short-term loan from the Islamic Development Bank (IDB), and $27.81 million from the OPEC [Organization of the Petroleum Exporting Countries] Fund.

Read also: With loan rollover, rupee appreciates further

The bilateral support in this period included $42.18 million from China; $30.64 million from France, $10.89 million from Germany, 18.62 million from Japan, $12.38 million from South Korea, $59.05 million and oil facility worth $595.18 million from Saudi Arabia, and $25.67 million from the United States.

According to the ministry statistics, $595.09 million were invested in the new Pakistan Certificates in the first seven months of this financial year, while the volume of time deposits remained $2billion during the same period.