Pakistan, July 18 -- Pakistan secured more than $16 billion in external financing during the last fiscal year, according to official documents. The funding helped meet the country's financing needs despite missing its annual borrowing target. Saudi Arabia emerged as Pakistan's largest bilateral financial supporter.

Official records show Pakistan received over $16 billion, or approximately Rs4.52 trillion, in external financing. However, the government fell $3.072 billion short of its annual foreign borrowing target of $19.92 billion. Financing accelerated significantly in June, when the country secured more than $4 billion.

Read more: Pakistan secures $16.2 billion foreign loans from China

Saudi Arabia provided the largest bilateral su...