Bangladesh will receive $1.15 billion as the third installment of a $4.7 billion loan from the International Monetary Fund (IMF).
According to an IMF news statement on Wednesday, the IMF team and Bangladesh came to an agreement at the staff level over the policies required to finish the second review under the ECF/EFF/RSF arrangements.
The consensus at the staff level was obtained following a comprehensive deliberation on the essential economic measures.
This agreement marked the end of an IMF mission team led by Chris Papageorgiou’s 15-day visit to Bangladesh, which was aimed at assessing the nation’s financial and economic policies.
About $932 million under the Extended Credit Facility (ECF)/Extended Fund Facility (EFF) and roughly $220 million under the Resilience and Sustainability Facility (RSF) are among the funds allotted in this tranche.
But the payment is only guaranteed if the IMF’s executive board in Washington gives its approval, which should happen within the next several weeks.
Bangladesh will have access to the sizeable sum of $1.15 billion upon the board’s approval, strengthening its financial stability and assisting with ongoing economic reforms.
