ISLAMABAD

Multilateral and bilateral donors disbursed only $203 million for Pakistan in the month of October that affected the ongoing development projects of the country.

Overall, Pakistan received $1.9 billion under economic assistance from foreign agencies and countries during July-October of the ongoing fiscal year, which is only 20 percent of the annual estimated foreign assistance of about $9.18 billion.

The government spends the economic assistance received from multilateral and bilateral donors on renewable power sector projects, construction of roads, health sector reforms, education, water projects and reconstruction of earthquake affected areas. Therefore, these projects were affected due to the slow inflow of the economic assistance.

“The current does not include $950 million amount, received in Novermber, from the World Bank, Asian Development Bank and Japan for the energy sector reforms,” said an official of the Economic Affairs Division talking to The Nation. The amount would go beyond three billion dollars when the figures of November are updated, he added.

The government has estimated foreign assistance of about $9.18 billion for 2015-16 including grants and loans, which is higher by 12 percent than the revised estimates of 2014-15 and 23 percent higher than the budget estimates of 2014-15.

According to the latest figures of the Economic Affairs Division, Pakistan had received $1.9 billion during July-April. The larger component of the assistance is the auction of Eurobond of $500 million.

A number of countries and institutions including Australia, the EU, France, Italy, South Korea, Norway, Organisation of the Petroleum Exporting Countries (Opec), Saudi Arabia and UNDP did not release a single penny for Pakistan during July-October of the current financial year.

According to the documents of the EAD, China had given assistance worth $268.4 million against the yearly estimates of $3.04 billion. Pakistan received $20.31 million from Germany, $5.63 million from Japan, $30.06 million from Kuwait, $122.3 million from United Kingdom, $50.65 million from United States during July-October of the year 2015-16.

The government also got $513.2 million loans from consortium of commercial banks against the budgeted $200 million for the current financial year.

The ADB disbursed $136.69 million to Pakistan during July-October, while the Bank is estimated to provide $1.02 billion during entire fiscal year. International Bank for Reconstruction and Development (IBRD) provided $23.94 million as loan, International Development Association (IDA) of the World Bank released $46.39 million and Islamic Development Bank disbursed $30.85 million to the government of Pakistan during first four months of the present financial year.