Foreign loan release up by 17pc in 10 months

May 29, 2014

The disbursement of foreign loans and grants increased by 17.04 per cent in 10 months of the current fiscal year of 2013-14, showed the latest data of Economic Relations Division. The total disbursement in July-April period was $2,369.58 million against $2,024.44 million in the same period of the previous fiscal year. The commitments of foreign loans and grants, however, dropped by 38 per cent in July-April period of the current fiscal year.
ERD officials said that the disbursement was slow in the previous months of the fiscal year as development work remained halted amid the political violence in the first six months of the fiscal year.
They said the recovery from the political instability also took some time which slowed down the disbursement.
During the period (July-April of the FY14), foreign lenders disbursed $625.66 million in grants and $1,743.93 million in loans.
In the same period of the FY13, the lenders had disbursed $509.41 million in grants and $1,515.03 million in loans.
The commitments after 10 month stood at $3,458 million while the figure was $5,618 million in the same period of the previous fiscal year.
The ERD data showed that of the total commitments in July-April period, $478 million were in grants and $2,979 million in loans.
The figures were $567 million and $5,050 million in the same period of the previous year.
Out of the released amount, the World Bank released $598.52 million and its trust fund $89.65 million, China $397.42 million, Asian Development Bank $397.14 million, Japan $348.69 million, DFID $134.53 million, UN system $114.57 million and India $95.37 million.
The government managed to repay $963.82 million of loans including $788.13 million as principal amount and $175.69 million as interests in the period of this
fiscal year.

-With New Age input

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