Pakistan's Foreign Loans Update 2008-09

IMF and other countries have so far provided a sum of USD:8.8 billion as loan to Pakistan during the fiscal year 2008-09, a report disclosed here.

According to the report, the International Monetary Fund (IMF) still stands as the leading loan/financial assistance providing organization for Pakistan among other donor countries and institutions which has given a sum of USD:3.948 bn for the said period in compliance with a total loan facility agreement of USD:7.6 bn.

Besides the IMF, following organizations have provided the loan facilities to Pakistan during the year 2008-09 :

Various International Financial Institutions (IFIs) : USD:4861.1 million

Asian Development Bank : USD: 1.5 billion

World Bank : USD: 1.17 billion

Islamic Development : USD: 678.44 million

World Bank's board of directors will meet on 10th of September in their head quarters Washington, to sanction a loan amount of USD: 25 milion for Pakistan.

According to the Pakistani ministry of Economic Affairs this loan amount will be consumed for their two projects i.e. Benazir Income Support Program ( USD: 15 millon) and Higher Education Program (USD: 10 million). It is expected that the said loan grant will be provided to Pakistan by the end of September 2009 at the discounted interest rate of 1.5%

Pakistan's Foreign Assistance Updates

IMF and Other Donors Provides USD:8.8 bn to Pakistan:

During the fiscal year 2008-09 Pakistan has received a total of USD:8.8 billion in terms of loans and financiasl assistance.

According to a report

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