Pakistan’s foreign loan inflows increased by nearly 20 percent during the first nine months of fiscal year 2025-26, supported by stronger financing from international institutions and overseas Pakistanis.
According to official figures, foreign inflows excluding International Monetary Fund disbursements reached $6.594 billion during July–March, compared to $5.507 billion during the same period last year.
The increase represents a growth of around 19.7 percent year-on-year, while March alone recorded inflows of $731.3 million, up 32 percent from the same month last year.
Officials said the figures exclude the IMF’s $1.2 billion tranche received in December and the additional $3 billion in safe deposits provided by Saudi Arabia during March and April. Including these amounts, Pakistan’s total external inflows during the nine-month period exceeded $9.7 billion.
Foreign loan inflows rose to $6.494 billion during the period, while grants declined by 27 percent to $100.3 million. Project financing reached $2.486 billion, whereas non-project financing stood at $4.108 billion. Budgetary support totaled $2.449 billion during the first nine months of FY26.
Among multilateral lenders, World Bank remained the largest source of financing with disbursements of $1.205 billion. Asian Development Bank provided $727 million, while Islamic Development Bank disbursed $542 million during the period.
Overseas Pakistanis also emerged as a major source of inflows through the Naya Pakistan Certificates scheme. Inflows under the program increased by 40 percent to $2.037 billion during the first three quarters of FY26, including $1.444 billion through Islamic certificates and $594 million through conventional certificates.
The government has set a total foreign inflow target of $19.9 billion for the current fiscal year.
