Islamabad: Pakistan is expected to roll over a $9 billion loan from China and Saudi Arabia in the upcoming fiscal year 2024-25, according to sources from the Ministry of Economic Affairs. Additionally, Pakistan seeks funding for the Diamer Bhasha Dam project.
The Ministry sources revealed that Pakistan anticipates a facility of $500 million from the Islamic Development Bank for oil and commodities, while an extension of the Saudi Arabian facility for oil loans is not currently feasible.
The Ministry of Economic Affairs also highlighted Pakistan’s challenge of facing total repayments exceeding $20.8 billion this year, despite commitments made at the Geneva Donors Conference in 2023 totaling $10.7 billion, of which only $3 billion has been received. Efforts are underway to secure financing based on commitments made at the Pakistan Donors Conference.
Sources indicate Pakistan expects $1 billion from the World Bank for the Dasu Hydropower Project, with financing to be provided by the Asian Infrastructure Investment Bank for the N-5 project.
This news underscores Pakistan’s ongoing efforts to manage its financial obligations and secure critical infrastructure funding amidst global economic challenges.
Pakistan Likely to Roll Over $9 Billion Loan from China and Saudi Arabia in FY 2024-25
