Pakistan seek $21.6 billion foreign aid in the form of economic assistance
ISLAMABAD - Pakistan seek $21.6 billion foreign aid in the form of economic assistance, private media has reported.
Pakistan to receive $21.6 billion in promised foreign aid in the form of economic assistance due to long completion projects, data from the Ministry of Economic Affairs showed.
A report published in *The Express Tribune *claimed that out of the $21.6 billion, there was $3.9 billion worth of foreign grants that the international donors committed to giving to Pakistan but remained undisbursed due to multiple reasons.
The remaining $17.7 billion were relatively cheap loans that Pakistan contracted at 1.25% to around a 3% interest rate, claimed the report.
Official data of the economic affairs ministry showed that the undisbursed balance of foreign loans and grants stood at $21.6 billion as of June 2019. There was a reduction of $2 billion or 8.6% as compared to the preceding year when the amount stood at $23.6 billion.