Pakistan secured $12.4 billion in foreign loans during the financial year 2025, reflecting a $2.6 billion increase compared to the $9.8 billion disbursed in FY24, according to official data.

Excluding $2.1 billion in inflows from the International Monetary Fund (IMF), the total does not account for $9 billion in rollover deposits from Saudi Arabia and China under Time Deposit and SAFE arrangements.

The rise in foreign inflows was primarily driven by increased disbursements from the Asian Development Bank (ADB), commercial bank loans, proceeds from the Naya Pakistan Certificate scheme, and the resumption of the Saudi Oil Facility (SOF).

Multilateral and Bilateral Contributions
Multilateral creditors disbursed $4.838 billion in FY25, exceeding the budgetary projection of $4.577 billion. The Asian Development Bank (ADB) led the way, releasing $2.13 billion—well above its $1.65 billion target. The Asian Infrastructure Investment Bank (AIIB) also contributed $110.37 million.

Bilateral inflows surpassed expectations as well, with Pakistan receiving $600 million, including $221.27 million from Saudi Arabia.

Commercial Borrowing and Certificates
Foreign commercial borrowing reached $4.297 billion, exceeding the target of $3.779 billion. Additionally, Pakistan raised $1.9 billion through the Naya Pakistan Certificate scheme.

World Bank and Chinese Contributions
Disbursements from the World Bank fell short of projections. The International Development Association (IDA) released $1.37 billion, while the International Bank for Reconstruction and Development (IBRD) disbursed $392 million.

China provided $483 million in guaranteed loans to Pakistan during FY25.