During the month of July 2018, Pakistan made $495 million foreign borrowings from multilateral and bilateral sources.
In the first month of the present fiscal year, the nation borrowed $99.43 million from bilateral sources, $221.83 million from multilateral sources, and $173.3 million from commercial banks.
Economic Affairs Division’s recent information showed that last month Pakistan had borrowed $494.56 million. During the current fiscal year, the state had planned to borrow $13 billion from overseas sources.
The state had borrowed $173.3 million from Dubai Bank and a Credit Suisse consortium in banking sources. In the present fiscal year, the state had planned to borrow $2 billion from commercial banks.
Pakistan borrowed $54.24 million from China in bilateral sources. UK gave $37.18 million, while the US gave Pakistan a $6.04 million loan in July 2019.
The Islamic Development Bank disbursed $137 million from a total of $551 million under the oil credit facility in multilateral sources.
Last month, the Asian Development Bank (ADB) paid out $15.8 million. ADB has already approved a program loan of $500 million and the sum will be expressed in information from August. The World Bank released last month $41.5 million.