China remained largest donor to Pakistan by disbursing $493.77 million – reveals Business Recorder

Pakistan has received foreign assistance of over $294 million in the month of April of the current fiscal year including $163.7 million from bilateral donors and $131.2 million from multilateral donors. According to the documents available with Business Recorder, the country received foreign assistance of $2.23 billion in the first 10 months (July-April) of the current fiscal year.

pak-chinaDuring this period, China remained the largest donor to Pakistan by disbursing $493.77 million. The country had estimated foreign assistance for the current fiscal years at $3.73 billion including $3.27 billion loan and $463.97 million grant from multilateral and bilateral donors.

China has emerged as the largest loan donor with disbursement of $77.44 million, UK second with $58.21 million and Asian Development Bank (ADB) with $44.26 million in the month of April. However, International Development Association (IDA) emerged as the second largest loan provider: it released $322.56 million, while the ADB was third with $321.34 million from July to April. Of the total $3.27 billion loan component estimated for the current fiscal year, Pakistan received $1.89 billion, while of the $463.9 million grant component; it received $340.14 million during the first 10 months of the current fiscal year.

Japan released $215.42 million, IDB [S-Term] $256 million while USA disbursed $78.4 million from July 2012 to April 30, 2013. In the month of April, Japan released $1.55 million, Saudi Arabia $14.16 million and USA $8.02 million. For the current year, it was estimated that Pakistan would receive $82.7 million from UK under the head of grant, however it exceeded the estimated target as $189.19 million was received so far under the head during the first 10 months of the current fiscal year with only $58.21 million in the month of April.

The country has not received any amount from Turkey, Australia and UNDP under the head of grant or loan till April 30, 2013. The government has estimated a total of $2.16 billion under project aid including loans of $1.8 billion and grants of $339.3 million; however it received $1.78 billion during first 10 months of the current year including 258.6 million in April. Further it was expecting $1.6 billion for non-project aid including $1.4 billion loans and $124.6 million grants; however by the end of April the government received $454.42 million including $36.29 million in April.

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