Government Signed Loan Agreements of $6.517 Billion During Q2FY2021
During the second quarter of the fiscal year 2020-21, the government signed new loan agreements worth $6.517 billion with various development partners, SAFE deposits, and foreign commercial banks.
This was revealed in the Economic Affairs Ministry quarterly report released on Thursday. Out of the total new agreements, $3.458 billion worth of financing agreements were signed with multilateral development partners, $2.01 billion with foreign commercial banks, $1 billion as a SAFE deposit, and $49 million with bilateral development partners.
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Around $2.01 billion worth of agreements that constituted 31 percent of the total new commitments, were commercial borrowings. This financing was arranged to refinance maturing commercial debt.
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