Pakistan has obtained $3.52 billion together with $3.49bn in loans and $34 million in grants in the course of the first three months of FY-2023-24, ARY Information reported quoting the Financial Affairs Division.
The Financial Affairs Division has launched a month-to-month report concerning the loans and grants obtained by Pakistan from different international locations within the present monetary 12 months to this point.
The report mentioned that from July to September 2023, Pakistan obtained $3.5273 billion from overseas, in keeping with the report. Out of this, $3.49 billion are loans and $34 million grants, exhibiting 58 per cent rise as in comparison with final 12 months’s $2.234 billion mortgage.
The report additional mentioned that Saudi Arabia gave a mortgage of $2 billion to Pakistan within the type of time deposits, and China’s Nationwide Aero Expertise Company supplied $500 million.
Varied worldwide monetary establishments prolonged a mortgage of $490 million {dollars} to Pakistan, whereas $324 million was obtained from numerous international locations.
This help is apart from the primary tranche of $1.2 billion obtained from the IMF within the first quarter of the fiscal 12 months.
Pakistan expects to obtain greater than $17.38 billion in exterior monetary help within the present monetary 12 months, the report reveals.
Earlier it emerged that Pakistan will maintain talks for the second tranche of the Worldwide Financial Fund (IMF) bailout probably within the final week of October.