Pakistan has received $3.52 billion in the first three months of FY-2023-24, including $3.49 billion in loans and $34 million in grants, as reported by the Economic Affairs Division, according to ARY News.
During the period from July to September 2023, Pakistan received a total of $3.5273 billion from abroad, as stated in the report. Of this amount, $3.49 billion consists of loans, and $34 million is in grants. This marks a notable 58 percent increase compared to the previous year’s $2.234 billion in loans.
The Economic Affairs Division has issued a monthly report detailing the loans and grants obtained by Pakistan from foreign sources in the current financial year up to this point.
The report goes on to reveal that Saudi Arabia contributed a $2 billion loan to Pakistan in the form of time deposits, and China’s National Aero Technology Corporation provided an additional $500 million.
Furthermore, various international financial institutions extended loans totaling $490 million to Pakistan, while various countries offered an additional $324 million in support.