[[IMAGE: Authorities receive $1.2b in six months, 67% higher than previous year.]] ISLAMABAD:? Pakistan has managed to obtain $1.2 billion in new loans during the first half of the current fiscal year mainly against projects funding. The country’s foreign loans increased 67% during July to December 2011 against $679 million received in the same period a year ago, according to documents from the Economic Affairs Division (EAD). As much as 96% of the loans were disbursed against various projects. The government has targeted $3.7 billion from international lenders in fiscal 2012, of which $1.6 billion is for projects, of which almost 70% have been received. An amount of $1.1 billion will be arranged under the budgetary head, however, only 4.5% of the annual target could be achieved in the first six months. Of the total inflows of $1.2 billion, the budgetary support was only $49 million. Pakistan received $236 million from the WB in the first half of fiscal 2012, $143 million higher than the corresponding period of the last fiscal year.

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Pakistan gets better at obtaining foreign loans