During the initial quarter of the current financial year, Pakistan garneredan additional $1.29 billion in external financial aid compared to thecorresponding period in the previous year. The Economic Affairs Divisionhas published a monthly report detailing the loans and grants acquired fromforeign nations.
From July to September 2023, Pakistan obtained a total of $3.5273 billionfrom overseas sources, with $3.49 billion constituting loans and $34million in grants, according to the report. In contrast, during the sameperiod in the prior fiscal year, the country received $2.234 billion inforeign financial assistance.
The report highlights that in the first quarter of the ongoing financialyear, Pakistan secured $2.65 billion for budget support and variousprojects, with an additional $874 million designated for project aid.Notably, Saudi Arabia provided a $2 billion loan in the form of timedeposits, China’s National Aero Technology Corporation allocated $500million for the Pakistan Air Force, and several international financialinstitutions extended a $490 million loan. Furthermore, $324 million wascontributed by various countries.
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Overseas Pakistanis invested $204.5 million in Naya Pakistan Certificates,as per the report. It’s also worth noting that Pakistan acquired over $320million in external financial assistance in September 2023, in addition tothe initial $1.2 billion tranche received from the IMF in the first quarterof the fiscal year.