Pakistan received $763.03 million in foreign economic assistance during July 2026, marking the opening month of fiscal year 2026-27, according to the latest monthly disbursement report released by the Economic Affairs Division. The inflows came from a combination of multilateral and bilateral development partners, sovereign guaranteed financing from China and foreign commercial borrowing through the Naya Pakistan Certificate scheme.
The July financing included $272.43 million in disbursements from bilateral and multilateral development partners. In addition, foreign commercial borrowing through the Naya Pakistan Certificate scheme contributed $343.99 million during the month, making it one of the largest sources of external financing during the period. Multilateral development partners provided $252.83 million in July. International Development Association was the largest multilateral source, disbursing $130.65 million during the month. The Asian Development Bank followed with $59.17 million, while the International Bank for Reconstruction and Development provided $29.22 million.
The Islamic Development Bank’s short term facility contributed another $22.71 million during July. Other multilateral institutions also provided financing during the month. The Asian Infrastructure Investment Bank disbursed $6.57 million, while the Islamic Development Bank provided $1.75 million through its other financing channel. The International Fund for Agricultural Development contributed $2 million and the OPEC Fund provided $0.76 million.
Bilateral development partners contributed $19.60 million to Pakistan’s external financing during July. Germany was the largest bilateral contributor, providing $9.94 million. Saudi Arabia followed with $7.42 million, while France contributed $1.30 million and Japan provided $0.94 million. Pakistan also received $146.62 million from China under a sovereign guaranteed loan for the Chashma Nuclear Power Plant 5 project. This financing was recorded separately from the bilateral development assistance and represented a significant component of the country’s overall external financing during the month.
Foreign commercial borrowing through the Naya Pakistan Certificate scheme amounted to $343.99 million in July. The total consisted of $97.32 million raised through the conventional facility and $246.67 million through the Islamic facility. The Islamic facility alone represented the single largest individual inflow recorded during the month. The Naya Pakistan Certificate scheme therefore accounted for a substantial portion of the total external financing received during July. The combined conventional and Islamic facilities provided almost $344 million, reflecting continued access to foreign commercial financing through the government’s certificate programme.
The Economic Affairs Division’s data also provide a breakdown according to the purpose of the financing. Non project aid amounted to $432.73 million during July. This included $343.99 million in budgetary support and $22.71 million received through the Islamic Development Bank’s short term facility. The composition of non project assistance indicates continued reliance on programme based inflows to support Pakistan’s financial requirements. Budgetary support through the Naya Pakistan Certificate scheme accounted for the largest portion of non project assistance during the month.
Project based disbursements stood at $330.30 million in July. These funds were directed toward development related financing and included the sovereign guaranteed loan from China for the Chashma Nuclear Power Plant 5 project.
Overall, Pakistan’s $763.03 million in external financing during July comprised $252.83 million from multilateral sources, $19.60 million from bilateral partners, $146.62 million through the China guaranteed financing category and $343.99 million through the conventional and Islamic Naya Pakistan Certificate facilities. The figures provide an early indication of Pakistan’s external financing position for fiscal year 2026-27. The country began the new fiscal year with significant inflows from international development institutions, bilateral partners and commercial financing channels.
The financing mix also shows the continued importance of both development assistance and programme based borrowing in meeting Pakistan’s external funding requirements. Multilateral institutions remained an important source of development financing, while the Naya Pakistan Certificate scheme generated the largest overall category of inflows during the month. With total external financing reaching $763.03 million in the first month of fiscal year 2026-27, Pakistan received support across a range of financing channels. The Economic Affairs Division’s July data capture the contributions of international development institutions, bilateral partners, sovereign guaranteed financing and foreign commercial borrowing to the country’s external funding position.
Follow the PakBanker Whatsapp Channel for updates across Pakistan’s banking ecosystem.