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Govt receives $15.63bn in loan, grants


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– AFP (File Photo)

ISLAMABAD, Oct 18: The government has taken a total of $15.63 billion loans and grants from various countries and international donors, excluding disbursements made by the IMF.

The documents prepared by the Economics Affairs Division (EAD) showed that the government received $13.07 billion in loans during March 25, 2008 to July 1, 2012.

In all Pakistan has obtained 58 different loans worth $3.81 billion from seven countries while 167 loans amounting to $9.25 billion have been taken from eight donor agencies.

Pakistan has obtained a total of $2.56 billion in the form of grants which include financial support worth $2.19 from 13 countries and $375.56 million from donor agencies.

The UK and USA are the larges donors for Pakistan, and both the countries have not loaned any amount to the country. USA disbursed the highest amount of $1.25 billion in terms of grants to Pakistan followed by $528.65 million grants by the UK.

During the period from March 2008 to July 2012, China remained the largest lender country for Pakistan providing $2.48 billion in terms of loans, while the grants amounted to $69.38m.

Similarly, there is huge disparity between loans and grants given by Saudi Arabia, as the loans provided by Saudi Arabia to Pakistan during this period amount to $698.62 million compared to $7.65 million grants provided by that country to Pakistan.

The third largest lender country for Pakistan is Japan providing $458.81 million loans to country, while Japan has given $215.65 million grants during this period.

Kuwait has given six different loans amounting to $68.14 million but has not given any grants to Pakistan. Similarly, France and Korea have not given any grants to Pakistan but both countries provided $21.58m and $20m loans.

Similarly, the Opec fund has given only a loan of $26.59 million to Pakistan.

Among the donor agencies, the largest loan of $4.16 billion has been obtained from the Asian Development Bank.

The incumbent government has taken 75 different loans from the ADB and the average repayment period for these loans are 20 years, whereas, the ADB has provided $67.75 million grants to Pakistan in the past four years.

The IDA of World Bank provided 50 loans worth $2.99 billion and it gave $37.23 million grants to Pakistan, the total loans from the IDB amounted to $1.66 billion and no grants have been provide by the IDB to Pakistan.

Among international organisations, UK aid agencies have provided the highest number of $91.36 million in terms to grants. The other donor organisations who have provide only grants and not only loans to Pakistan are European Union providing grants worth $62.67 million, GAVI alliance $34.20 million, and other donors including UNDP, UNHCR and World Food Programme.

Comments (20) Closed

fahad Oct 20, 2012 04:32am
we Pakistanis know the china importance, china is better than india for Pakistan and Pakistanis, China do many development works in Pakistan. Thanks
fahad Oct 20, 2012 04:30am
Giving grant is not a big thing, the big thing is how it use in Pakistan mostly grant is not spend on poor people. If usa and uk and japan wants to help Pakistan they need to make industries in Pakistan. Mostly grant is taken by corrupt politicans very little spend on public.
shamwail Oct 19, 2012 06:14pm
it isnt about the amount of loan or grant, the point is Where is this 15 billion dollars?
Rao Oct 20, 2012 01:02pm
Agreed! That is why, not long ago, Pakistan President Zardari praised China and said friendship between China and Pakistan is higher than Himalayas and deeper than Indian Ocean. Or did he say deeper than Arabian Sea? I forget!
Raja Ali Oct 20, 2012 09:53am
shameful in either case...
Day Dreamer Oct 20, 2012 10:08am
friendship is not bought, it is of mutual strategic interest .... Nevertheless, all are appreciated... not appreciated is our inability to properly utilize our resources and start donating instead of receiving donations and loans...
Cyrus Howell Oct 20, 2012 01:18pm
Loans and Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations
Vigilant Oct 20, 2012 06:53am
This is article is to show our progress or ashamed us as a nation.....which is gradually transformed into international beggers
Smart Oct 19, 2012 12:26pm
Is this an article or copy and paste of figures only ??
Muhammad Asif Oct 19, 2012 09:44am
Is it a test of friends and businessmen? or a test of interests?
Vinod Oct 20, 2012 05:17pm
Is your intention of comaring india with china a regret or regret for not getting loan or grant from India. If you read news you will know India gave Bangladesh over billion Dollar. Be sure Pakistan will grab anything if India offers. You forgot to thank USA and UK and others for the grants or may be you are so used to the grants. Your praise of china sounds more like khushamed. China believes in business and support to Pakistan makes economic sense to China.
Joe Oct 20, 2012 05:06pm
'If they want to ... , they need to ...'? Really? Have you completely lost your minds as a nation? You are begging and you are demanding that the donor do this for you, if they "want to"?
Tariq Oct 20, 2012 04:21pm
Japan gives grants because it reclaims back in billions from Pakistan! You only have to see what drives on the Pakistan roads, in the homes all the electronics etc,etc.
Rameez Bukhari Oct 20, 2012 02:40pm
You are so ill informed. By giving loans these countries are putting more burden on us. Only servicing interest on these loans will require a hefty proportion of our GDP. However unlike them China invests into projects and developments which provide income for the government. There is no interest or fees. If only the uneducated fools of Pakistan were able to see China favours us whereas all others are creating long term burden by providing short term solutions
hypocrite Oct 19, 2012 07:55am
still v hate britain and america and love saudis...level of hypocrisy.....
Desi Oct 20, 2012 04:08am
Is Pakistan make friendship for aids?
Muhammad Choudhry Oct 19, 2012 12:08pm
Who is going to pay such heavy loans next 20 years?. Zardari and his friends are leaving the country for take care of foreign banks deposits soon.. Shame! USA Oct 19, 2012 02:41pm
How about media creates a Balance Sheet of Credit and Debit for this money?Where borrowed money was spent?
Sandip Oct 19, 2012 12:06pm
If you look at the figures above, US, UK, Japan is your best friend compared to China. They provide you billions of dollars in grants whereas China only provided 69M in grants. Pakistan needs to see who its true friends are?
Shah Oct 19, 2012 12:03pm
Well this simple fact sheet explains a lot! I was wondering if Saudi $698 m loan is interest free! And yes so called