Govt obtains $12.022 billion loans, grants in seven months
ISLAMABAD: The federal government has obtained $12.022 billion in loans and grants during the first seven months of the current fiscal year 2021-22.
Document states that the federal government borrowed the amount from commercial banks, multilateral institutions and different countries during the July-January period against a yearly budget estimation of obtaining loans worth $14.088 billion.
The Q-block managed to secure $196.1 million from different countries, including $100 million from China, $7.36 million France, $11.38 million Japan, $3.36 Korea, $12.25 million Germany, $14.54 million UK and $45.27 million grant and loans from USA in first seven months of the current fiscal year.
The government has also obtained $2.62 billion loans from commercial banks including $61 million Ajman bank, $1.14 billion Dubai bank, $591 million Emirates NBD, $487 million SCB London and $343 million from Suisse AG, UBL and ABL. Meanwhile, multilateral institutions including Asian Development Bank (ADB) have given $1.09 billion, AIIB $38.77
million, IBRD $153 million, IDA $847 million, IDB $66 million, IDB short term $1.08 billion, IFAD $18.30 million, EU $22.55 million loans or grants during this period.
The document shows that the government has also raised $2.041 billion by floating bonds in the period under review.
Moreover, the government has also received $179 million in grants from Germany, Japan, the UK, the USA, IBRD, ADB and MDTF during 7MFY22 against the yearly budget estimation of $3.7 billion.
