Islamabad, Dec 20: The government is working to secure an extra $500 million in project financing from multilateral institutions during the ongoing fiscal year. Negotiations are currently underway with the Asian Development Bank (ADB), the World Bank, and the Islamic Development Bank (IDB) to finalize the funding.
According to sources, the Ministry of Finance and the Economic Affairs Division are actively engaged in discussions with these institutions. The revised project financing target for this fiscal year has been increased to $5.6 billion, up from the initial estimate of $5.1–$5.2 billion. The ADB is expected to contribute over $300 million toward social protection and development initiatives, with an additional $100 million anticipated by December. Similarly, the World Bank is projected to provide $150 million in extra funding for the Dasu Dam and its transmission lines.
Talks are also in progress with the IDB for additional funding for various projects, though agreements with both the World Bank and IDB have yet to be finalized. The Economic Affairs Division has been tasked by the Ministry of Finance to spearhead these efforts. The funds aim to alleviate payment pressures and advance the government’s development objectives.
