- August 25, 2026
- Posted by: Tresmark
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Pakistan received $763 million in foreign loans and grants in July 2026, the first month of FY27, compared with $694.5 million during the same period last year, despite lower disbursements from bilateral and multilateral lenders.
A major source of the inflows was Naya Pakistan Certificates (NPCs), which attracted $343.99 million during July, significantly higher than the $196.22 million received in July 2025. Conventional NPCs accounted for $97.32 million, while Islamic NPCs generated $246.67 million.
According to data from the Economic Affairs Division, $146 million in guaranteed loans from China was received during the month.
Bilateral loans and grants stood at $19.6 million, down from $118.4 million a year earlier. France provided $1.3 million, Germany $9.94 million, Japan $0.94 million and Saudi Arabia $7.42 million.
Meanwhile, multilateral creditors disbursed $252.83 million in July, compared with $379.8 million in the same month of FY26.
The World Bank was the largest multilateral contributor, providing $130 million through IDA and another $29.22 million through IBRD. The Asian Development Bank (ADB) disbursed $59.17 million, while the Asian Infrastructure Investment Bank (AIIB) provided $6.57 million.
The Islamic Development Bank contributed $1.75 million, along with $22.71 million in short-term financing. The International Fund for Agricultural Development (IFAD) and OPEC Fund disbursed $2 million and $0.76 million, respectively.
Overall, the July figures show that while traditional bilateral and multilateral financing remained relatively subdued, stronger inflows through Naya Pakistan Certificates helped lift total external financing above the level recorded a year earlier.
