KP govt plans to secure substantial loans from Int’l aid agencies

PESHAWAR: The Khyber Pakhtunkhwa (KP) government has announced plans to secure significant loans from international aid agencies in the upcoming fiscal year 2024-25, amounting to Rs. 121.754 billion.

According to the Annual Development Program (ADP) documents, the largest portion of the loans for KP will be sourced from the World Bank, which will provide Rs. 60.52 billion. Rs. 46.93 billion will be obtained from Asian Development Bank (ADB), as detailed in the ADP documents.

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Furthermore, the International Development Agency (IDA) will be asked for a loan of Rs. 12 billion for the province. Rs. 3.09 billion in loans will be sought from the United States Agency for International Development (USAID), while KfW, the German development bank, will extend Rs. 2.49 billion in loans.

In addition, the province anticipates receiving Rs. 1.49 billion in loans from China, as per the documents.

Besides these loans, the Khyber Pakhtunkhwa government is also expected to receive grants totaling Rs. 8.833 billion from various international aid agencies.

These financial measures are aimed at supporting the province’s development initiatives and addressing fiscal challenges in the forthcoming year.