The EAD is actively engaging with the Arab Coordination Group and the Qatar Fund for Development to secure funding for the Diamer Bhasha Dam within this fiscal year. Additionally, EAD officials confirmed that $9 billion in loans from China and Saudi Arabia will be rolled over. Pakistan faces a total repayment obligation of over $20.8 billion this fiscal year. The EAD also anticipates receiving $500 million from the Islamic Development Bank for oil and commodity loans, although Saudi Arabia is currently reluctant to offer Pakistan another oil loan facility.
During the briefing, it was mentioned that at the Geneva Donor Conference held in January 2023, $10.7 billion was pledged for project financing. However, Pakistan has only received $3 billion so far, predominantly as debt rather than grants.
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For this fiscal year, Pakistan is expected to receive $1 billion from the World Bank for the Dasu Hydropower Project, with the first phase scheduled for completion by 2027. Meanwhile, the Asian Infrastructure Investment Bank will be awarded the construction contract for the N5 project.
EAD officials also pointed out the absence of a nationwide monitoring mechanism for NGO projects but assured that funding is supervised to prevent misuse for terror financing. The committee requested more detailed information on projects with delayed external financing at the next meeting.
