Pakistan received $1.82 billion in foreign assistance during the first quarter (July–September) of fiscal year 2025–26, including loans, grants, and investments through Naya Pakistan Certificates.
According to the Economic Affairs Division, bilateral grants stood at $19.37 million, led by China with $9.75 million, Japan with $6.16 million, and Germany with $3 million. In September alone, Pakistan received $2.42 million in bilateral grants.
The data excluded International Monetary Fund (IMF) disbursements under the Extended Fund Facility, which are recorded as balance of payments support on the State Bank of Pakistan’s accounts.
Bilateral loans totalled $334.8 million in the quarter, with the Saudi Oil Facility contributing $300 million. Other loans included $9.75 million from China, $8.5 million from France, $6.16 million from Japan, $4.21 million from South Korea, and $3.03 million from Germany.
Multilateral grants amounted to $21.53 million — $12.95 million from the International Bank for Reconstruction and Development (IBRD) and $8.18 million from the International Development Association (IDA). Multilateral loans reached $939.28 million, led by the Islamic Development Bank with $311.43 million, IDA with $287 million, IBRD with $144.94 million, and the Asian Development Bank with $116.94 million.
Combined bilateral and multilateral grants stood at $40.9 million, while total loan disbursements amounted to $1.27 billion. Investments in Naya Pakistan Certificates contributed $541.57 million during the quarter, against an FY26 target of $609 million.
To maintain foreign exchange reserves, Pakistan also held $9 billion as term deposits — $5 billion from Saudi Arabia and $4 billion as China’s Safe Deposit.
