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Pakistan gets $125.7mn aid in first quarter
ISLAMABAD: Pakistan received $ 125.7 million external assistance during the first quarter of the current fiscal year including $ 41.2 million from
multilaterals while $ 84.3 million was received from bilateral donors.
The documents available with this
scribe showed that two multilateral
donors, the World Bank and Islamic
Development Bank disbursed $ 35
million and $ 6.2 million respectively in the first quarter of 2012-13. UK Department for International
Development (DFID) remained the
major bilateral donor from July 2012 to date by disbursing $ 32.4 million to Pakistan, Japan released $ 23.6 million and US has remained the third major bilateral donor so far by releasing $ 13.6 million to Pakistan.
Australia released $ 5.8 million
through Australian Agency for
International Development (AUSAID), EU released $ 3.74 million through European Commission Humanitarian Aid Office, UN $ 0.9 million through Food and Agriculture Organization
(FAO), International Labor
Organisation (ILO) and UNDP, Norway $ 2.4 million, Netherlands $ 0.98 million, Germany $ 0.55 million and $ 0.14 million were disbursed by Global Environment Facility (GEF).
Sources told Business Recorder here on Monday that multilateral donors provide assistance at tougher terms and conditions compared to the bilaterals.
Financial support being
provided by the bilaterals is based mostly on grants not loans but
Pakistan is still dependent heavily on foreign assistance provided by the multilateral donors.
In the absence of the Letter of
Comfort (LoC) from the International Monetary Fund (IMF) Pakistan has, unfortunately, been deprived of financial commitments made by the multilateral donors including Asian Development Bank (ADB) and the World Bank that may lead to a considerable shortfall in the target of Rs 386.9 billion set for foreign assistance in 2012-13. The country was unsuccessful in achieving the target of $ 4.5 billion of foreign
assistance set for last financial year
2011-12 and received just 1.4 billion dollars, sources added.
ISLAMABAD: Pakistan received $ 125.7 million external assistance during the first quarter of the current fiscal year including $ 41.2 million from
multilaterals while $ 84.3 million was received from bilateral donors.
The documents available with this
scribe showed that two multilateral
donors, the World Bank and Islamic
Development Bank disbursed $ 35
million and $ 6.2 million respectively in the first quarter of 2012-13. UK Department for International
Development (DFID) remained the
major bilateral donor from July 2012 to date by disbursing $ 32.4 million to Pakistan, Japan released $ 23.6 million and US has remained the third major bilateral donor so far by releasing $ 13.6 million to Pakistan.
Australia released $ 5.8 million
through Australian Agency for
International Development (AUSAID), EU released $ 3.74 million through European Commission Humanitarian Aid Office, UN $ 0.9 million through Food and Agriculture Organization
(FAO), International Labor
Organisation (ILO) and UNDP, Norway $ 2.4 million, Netherlands $ 0.98 million, Germany $ 0.55 million and $ 0.14 million were disbursed by Global Environment Facility (GEF).
Sources told Business Recorder here on Monday that multilateral donors provide assistance at tougher terms and conditions compared to the bilaterals.
Financial support being
provided by the bilaterals is based mostly on grants not loans but
Pakistan is still dependent heavily on foreign assistance provided by the multilateral donors.
In the absence of the Letter of
Comfort (LoC) from the International Monetary Fund (IMF) Pakistan has, unfortunately, been deprived of financial commitments made by the multilateral donors including Asian Development Bank (ADB) and the World Bank that may lead to a considerable shortfall in the target of Rs 386.9 billion set for foreign assistance in 2012-13. The country was unsuccessful in achieving the target of $ 4.5 billion of foreign
assistance set for last financial year
2011-12 and received just 1.4 billion dollars, sources added.
