The country provisionally received over $468.31 million of budgeted estimates of foreign assistance in the first month (July) of current financial year 2018-19 against $265.73 million during the same period of last year (2017-18). The PML-N government had estimated foreign assistance of $9.69 billion for 2018-19 including $394.34 million grants and $9.297 billion loans, as shown in the Economic Affairs Division (EAD) data.
The country received $11.486 billion against the budgeted assistance of $8.094 billion for 2017-18 including $3.716 billion from foreign commercial banks. According to the latest figures, the country provisionally received $468.31 million including $439.17 million loans and $29.14 million grants in July.
The previous government had budgeted estimates of $2 billion from commercial banks for 2018-19. Pakistan received $70 million worth of two commercial loans from Noor Bank PJSC and consortium-led by Suisse AG, UBL, ABL. Noor Bank disbursed $20 million in July out of the total committed amount of $130 million. According to EAD documents, the loan agreement was signed on June 21, 2018 i.e. during the caretaker government.
The Suisse AG also disbursed $50 million out of its total commitment of $750 million. This loan agreement was signed during the PML-N government on May 9, 2018. Asian Development Bank (ADB) disbursed $27.45 million in July against the budgeted estimates of $1.38 billion.
The country received $289.91 million from China in July against the budgeted estimate of $840.99 million. This amount includes $166 million for the Orange Line Metro Project, $94.86 million for the Sukkur-Multan section of China-Pakistan Economic Corridor's (CPEC), and $21.85 million for Havelian-Thakot road of CPEC.
USA disbursed $14.20 million, International Development Association (IDA) $23.14 million, France $10.97 million, Kuwait $3.07 million, Saudi Arabia $16.5 million, UK $9.19 million and Germany $1.58 million in July.