Islamabad: Pakistan received a total of $763 million in foreign loans and grants during July 2026, the first month of the 2026-27 financial year.
Despite lower receipts from bilateral and multilateral lending sources, the country’s overall foreign financing increased compared with the same month of the previous financial year.
According to the available figures, Pakistan received $694.5 million in July 2025. This means foreign loans and grants increased by around $68.5 million, or nearly 9.9%, in July 2026 compared with the same month last year.
The increase came despite a decline in receipts from some traditional bilateral and multilateral sources.
One of the notable developments was a significant rise in funds raised through Naya Pakistan Certificates (NPCs). Pakistan attracted overseas funds through both conventional and Islamic versions of the certificates.
Naya Pakistan Certificates are financial instruments offered to overseas Pakistanis, allowing them to invest their foreign currency savings in Pakistan. The government has used these instruments as an important source of foreign exchange and external financing.
The increased inflow through NPCs helped offset lower receipts from other external financing sources during the month.
The July figures provide an early indication of Pakistan’s external financing position for the new financial year. The government continues to rely on foreign loans, grants and overseas investment instruments to meet its external financing requirements and support its balance of payments.
The increase from $694.5 million in July 2025 to $763 million in July 2026 represents a modest improvement in overall foreign financing at the beginning of the new fiscal year.
However, the composition of the inflows is also significant. While traditional bilateral and multilateral loans remained an important source of financing, the growing contribution from Naya Pakistan Certificates indicates increasing reliance on overseas Pakistani investors and market-based financing instruments.
The government will likely continue monitoring foreign inflows closely as it manages external debt obligations, foreign exchange requirements and financing needs during fiscal year 2026-27.
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