Pakistan took the largest loan from the World Bank during this year, billions of dollars were provided to Pakistan in the form of budget support and assistance to flood victims.
Pakistan became the largest borrowing country during 2023, Pakistan borrowed the most from the World Bank during this year, billions of dollars were provided to Pakistan in the form of budget support and assistance to flood victims. According to the details, the World Bank has released the details of the countries that received loans from the organization this year.
It has been reported that during this year, Pakistan became the largest country to borrow money from the World Bank. According to a report, in the year 2023, Pakistan took a loan of 2 billion 30 million dollars under the International Development Association program, while aid of 1 billion 70 million dollars was provided to the flood victims from IDA. According to the report, aid was given to the flood victims for the construction of houses and crops, the flood victims have also received aid for the education and health sectors, one billion dollars was provided to Pakistan for budget support through IDA.
The report states that a $200 million program was launched to combat climate change in Punjab. On the other hand, the Ministry of Economic Affairs released a report on external loans and funding in the first 2 months of this fiscal year. In the first 2 months of the financial year, Pakistan received 5 billion 31 million dollars, compared to 439 million dollars in the same period last year.
According to the report of the Ministry of Economic Affairs, funding of 316 million dollars was received in August and 2 billion 89 million dollars in July, this funding is in addition to 1 billion 20 million dollars received from the IMF. 2 billion dollars were received from Arabia, in the first 2 months of this financial year, 2 billion rupees were received from Saudi Arabia in the form of safe deposit, while 200 million dollars of oil was borrowed, while during the current financial year, 12 million dollars were received from UAE as safe deposit. found as
PAF received $506 million in funding from Aero Technology Corporation of China, $221 million in mutual loans, $336 million from multilateral agencies and $141 million from Naya Pakistan Certificate. Report It has been stated that in this financial year, a loan of 178 million dollars was received from the World Bank, while a loan of 87 million dollars was received from the Islamic Development Bank and 39 million dollars from the Asian Development Bank.
Apart from this, Pakistan received a loan of 16 million dollars from AIB and 6 million dollars from the International Fund for Agriculture. 760 million dollars were received as project loans. It is stated in the report that in the first 2 months of this financial year, no loan could be received from commercial banks, however, in the current budget, the loan from commercial banks is estimated at 4.5 billion dollars. According to the report, bonds could not be issued in the international market in the first 2 months of this financial year.