China and Saudi Arabia to extend $9 billion debt rollover for Pakistan

Pakistan is set to receive a rollover of $9 billion in debt from China and Saudi Arabia for the fiscal year 2024-25.

In addition to this rollover, Pakistan is seeking funds for the Diamer-Bhasha Dam project. The Ministry of Economic Affairs has indicated that Pakistan anticipates a $500 million facility from the Islamic Development Bank to support oil and commodities.

However, no extension is expected for the current oil credit facility from Saudi Arabia.

The ministry also reported that Pakistan faces over $20.8 billion in payments this year. Although the Geneva Donor Conference in 2023 pledged $10.7 billion, only $3 billion has been received to date. Pakistan is actively working to secure additional funding in line with commitments from donor conferences.

Additionally, Pakistan expects a $1 billion loan from the World Bank for the Dasu Hydropower Project