Senate has approved the 2018-2020 Federal Government external borrowing plan of 16.2 Billion United States Dollars, 1 billion EUROS and a grant component of 125 million Dollars.
The approval is sequel to the consideration of the report of the Senate Committee on Local and Foreign debts which scrutinised the request.
The loans from the World Bank, China EXIM Bank and 8 other international financial institutions is expected to be injected into Infrastructural and human capital development.
The Senate also approved the committee’s recommendation that the request for 500 Million EUROS but not more than 750 Million Eurobond in the International Capital Market be approved.
The legislators demanded that the executive forward the terms and conditions of the loan to the National Assembly.