China, Saudi Arabia expected to rollover $9b debt for Pakistan
Sources say Islamabad expects a $500 million facility from Islamic Development Bank for oil and other commodities
Pakistan is anticipated to secure a rollover of $9 billion in debt from China and Saudi Arabia for the fiscal year 2024-25.
In addition, Pakistan is seeking funding for the Diamer-Bhasha Dam project.
Sources from the Ministry of Economic Affairs indicate that Pakistan expects a $500 million facility from the Islamic Development Bank for oil and commodities.
The ministry sources also revealed that Pakistan faces over $20.8 billion in payments this year.
The Geneva Donor Conference in 2023 had promised $10.7 billion, but only $3 billion has been received so far. Pakistan is also working to secure funding based on commitments made at donor conferences.
Furthermore, Pakistan anticipates a $1 billion loan from the World Bank for the Dasu Hydropower Project.
The Asian Infrastructure Investment Bank is expected to provide financing for the N-5 project.