The country provisionally received $2.945 billion of budgeted estimates of external resources in the current financial year, mainly because of Sukuk bonds issue of $1 billion and $900 million loans from commercial banks. According to the Economic Affairs Division (EAD), the country borrowed $200 million from Noor Bank PJSC for budgetary support in the month of September though it was not budgeted for the current financial year.
The government also borrowed $700 million from China Development Bank as non-project aid during the month of September while budgeting $2.005 billion from China Development Bank for 2016-17, documents reveal. The government also issued Sukuk bonds of $1 billion in October. The government has estimated foreign assistance of $7.998 billion for 2016-17 including grants and loans against $9.18 billion budgeted for 2015-16.
Figures show that the country provisionally received $2.84 billion loans and $106.07 million grants till-date in the current fiscal year. Pakistan has received $411.75 million from China in the first four months of current fiscal year against $263 million during the same period of last year. The country has budgeted $572.3 million from China for the current financial year.
The Asian Development Bank (ADB) disbursed $142.8 million in the current financial year including $24.34 million in the month of October against the budgeted estimates of $1048.2 million. IDB (S-Term) disbursed $212.4 million, US $27.01 million, International Bank for Reconstruction and Development (IBRD) $46 million, International Development Association (IDA) $39.47 million, UNHCR $0.14 million, IDB $29.63 million and Japan $42.8 million in the current financial year. The government has received no assistance from EU, France, Korea, Norway, Oman, Saudi Arabia, UNDP and Organisation of the Petroleum Exporting Countries (Opec) during the period under review.