Pakistan received $3.7bn worth of grants, loans for Covid-19 relief efforts
Pakistan received US$3.7 billion worth of grants and loans from various countries to support the country’s corona relief efforts.
According to the details, the European Union provided a grant of $57 million while the United States, Japan, Asian Development Bank (ADB), China, and UK dispatched the grants of $31 million, $28 million, $7 million, $4 million, and $3 million respectively.
Out of total an amount of $73.99 million had been disbursed to the concerned institutions and authorities.
Similarly, Pakistan also received loans from different countries and institutions for various health-related projects.
The World Bank (WB) provided a loan of $500 million, ADB $350 million, Islamic Development Bank $70 million, OPEC Fund $50 million, and French AFG provided $51 million.
Out of total loans, an amount of $380 million was disbursed among the provinces for different projects.
Further, regarding the budgetary support under which the International Monetary Fund (IMF)provided $1.386 billion, ADB $500 million, and the Asian Infrastructure Investment Bank dispatched $750 million.
Under the head of budgetary support, the country received $2.636 billion in total and all amounts had been utilised; the funds were received in the State Bank of Pakistan account from where the money was disbursed to the concerned agencies.
The chairman of the Senate Standing Committee has asked the concerned officials to provide it with details of medical equipment received by the government from various international agencies and countries during Covid-19 in the next meeting of the committee.
Courtesy by :https://profit.pakistantoday.com.pk/