Pakistan borrows $12.135 billion in 11 months of FY
World Bank provided $800 million to Pakistan
ISLAMABAD (Web Desk) - Pakistan has received a foreign loan of US$12.13 billion in the 11 months of outgoing fiscal year, as per the economic affairs division report.
According to details, the borrowings as compared to same period last year are higher as during the last fiscal year country was in strong grip of COVID19, slowing development projects.
During July 2020 to May 2021 period commercial borrowings stood around $3.5 billion while Asian Development Bank (ADB) provided the country with most of the financial assistance that amounted to US$1.28 billion.
World Bank provided $800 million while IDB provided $508 million. The country also sold out its bonds worth US$2.5 billion during the period.
