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Pakistan had received $3.37 billion as foreign economic assistance during seven months (July to January) of the ongoing financial year 2014-15, which is 45 percent of the budgeted annual estimate of $7.4 billion to be disbursed this year.
The country had received $3.37 billion from different sources including development banks and countries during July-January of FY2015, showed the figures of the Economic Affairs Division (EAD). Meanwhile, Pakistan received $133 million as foreign economic assistance during the month of January 2015.
The break-up of $3.37 billion showed that country had received $325 million from the Asian Development Bank (ADB), as the Bank would provide $1.1 billion during entire fiscal year. Similarly, China disbursed $522 million to Pakistan during seven months. The government had projected to receive $1.46 billion from China during FY2015.
Meanwhile, Saudi Arabia had disbursed $18 million to Islamabad as against their annual projection of $171 million. The UK provides $206 million against the annual estimate of $246 million. According to the documents, the US gave only $34 million against the annual estimate of $358 million.
Pakistan had also received $50 million from the consortium of commercial banks, as the consortium has to provide $100 million this year. Against the annual estimate of $1.9 billion, the disbursement from the World Bank (WB) was $153 million during first seven months of the current fiscal year, according to the EAD documents.
Furthermore, the overall economic assistance of the Islamic Development Bank (IDB) to Islamabad had gone beyond the annual budgeted target of $580 million in seven months as the Bank provided $915 million to the country. The government had also received $122 million from other sources during July-January of FY2013.
The remaining source of foreign exchange assistance was the successful auction of Sukuk bond in late November last year. Pakistan raised $1 billion from the international Islamic bond market by selling its Sukuk papers at 6.75 per cent profit rate. It is worth mentioning here that foreign economic assistance does not include the tranches received from the International Monetary Fund (IMF) and from United States under the Coalition Support Fund (CSF).
Pakistan gets $3.37b foreign aid in 7 months
Pakistan had received $3.37 billion as foreign economic assistance during seven months (July to January) of the ongoing financial year 2014-15, which is 45 percent of the budgeted annual estimate of $7.4 billion to be disbursed this year.
The country had received $3.37 billion from different sources including development banks and countries during July-January of FY2015, showed the figures of the Economic Affairs Division (EAD). Meanwhile, Pakistan received $133 million as foreign economic assistance during the month of January 2015.
The break-up of $3.37 billion showed that country had received $325 million from the Asian Development Bank (ADB), as the Bank would provide $1.1 billion during entire fiscal year. Similarly, China disbursed $522 million to Pakistan during seven months. The government had projected to receive $1.46 billion from China during FY2015.
Meanwhile, Saudi Arabia had disbursed $18 million to Islamabad as against their annual projection of $171 million. The UK provides $206 million against the annual estimate of $246 million. According to the documents, the US gave only $34 million against the annual estimate of $358 million.
Pakistan had also received $50 million from the consortium of commercial banks, as the consortium has to provide $100 million this year. Against the annual estimate of $1.9 billion, the disbursement from the World Bank (WB) was $153 million during first seven months of the current fiscal year, according to the EAD documents.
Furthermore, the overall economic assistance of the Islamic Development Bank (IDB) to Islamabad had gone beyond the annual budgeted target of $580 million in seven months as the Bank provided $915 million to the country. The government had also received $122 million from other sources during July-January of FY2013.
The remaining source of foreign exchange assistance was the successful auction of Sukuk bond in late November last year. Pakistan raised $1 billion from the international Islamic bond market by selling its Sukuk papers at 6.75 per cent profit rate. It is worth mentioning here that foreign economic assistance does not include the tranches received from the International Monetary Fund (IMF) and from United States under the Coalition Support Fund (CSF).
Pakistan gets $3.37b foreign aid in 7 months
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