Islamabad: In positive news for Pakistan’s economy, the Executive Board of the International Monetary Fund (IMF) is set to meet in December to give the final approval for the third loan installment, totaling $1.2 billion.
Sources from the Ministry of Finance confirmed this development. They explained that the meeting will review the disbursement of $1 billion as part of the ongoing Extended Fund Facility (EFF) program.
In addition to this, the board will also approve an extra $200 million. These additional funds will be provided under the Climate Resilience Financing facility to help Pakistan cope with the impacts of climate change.
According to the sources, the Staff-Level Agreement (SLA) between Pakistan and the IMF was already finalized on October 15. Following that agreement, it is now widely expected that the Executive Board will formally approve this next tranche under the current loan program.
