Pakistan’s foreign assistance inflows jump 76% to $12.1 billion in 11 months 

Pakistan received $12.106 billion in foreign assistance during the first 11 months of 2025-26, an increase of 75.7% from $6.891 billion in the same period last year, according to the Ministry of Economic Affairs.

The July-May figure excludes $2 billion released by the International Monetary Fund in two instalments under its $7 billion Extended Fund Facility. Including these separately recorded disbursements, total foreign inflows exceeded $14.2 billion during the period.

The State Bank of Pakistan separately accounts for Extended Fund Facility disbursements, while the Economic Affairs Division records climate-related support.

Foreign loans rose 76.4% to $11.97 billion from $6.7 billion a year earlier. Grants declined 19% to $136 million from $168 million.

Pakistan has budgeted $19.9 billion in total foreign inflows for FY26, compared with a target of $19.4 billion last year.

Inflows amounted to $1.03 billion in May, down 76.5% from $4.4 billion in April following the absence of $3 billion in Saudi deposits received during the preceding month. The May figure was, however, 29% higher than the $797 million received in the same month last year.

Of the $12.106 billion received during July-May, project financing accounted for $3 billion, while non-project assistance stood at $9.1 billion.

Budgetary support loans amounted to $7.287 billion during the period, against the full-year target of $13.5 billion. The target was reduced from $15 billion in the previous fiscal year.

Pakistan also received the entire $1 billion available under the Saudi Oil Facility during the first 11 months.

Disbursements from multilateral lenders, excluding the International Monetary Fund, stood at $3.1 billion against the annual target of $5 billion. This was lower than the $3.367 billion received in the corresponding period last year, when the full-year target was $4.5 billion.

Bilateral inflows, excluding fixed deposits from two strategic partner countries, reached $3 billion against the annual target of $1.36 billion, largely due to additional Saudi time deposits.

Excluding Saudi deposits, inflows from sovereign bilateral lenders totalled $1.3 billion, including $1.012 billion in regular financing from Saudi Arabia.

Combined disbursements from bilateral and multilateral lenders amounted to $4.426 billion during July-May, compared with the annual target of $6.4 billion.

The government also raised $1 billion through Eurobonds after receiving no bond inflows last year. It secured a $202 million commercial loan from Standard Chartered Bank, London, and received another $421 million from the International Monetary Fund under its climate resilience facility.