The International Monetary Fund (IMF) has agreed to pay $115 million (1.15 billion) to Bangladesh in the third tranche of a $4.7 billion loan program.
In a press release, the IMF said, an IMF team has reached a staff-level agreement with the Government of Bangladesh on the principles necessary to complete the second review under ECF/EFF/RSF management.
The deal is subject to approval by the Washington-based lender’s executive board and is expected to close next week.
Bangladesh will get about $932 million under the Extended Credit Facility (ECF)/Extended Fund Facility (EFF) and about $220 million under the Resilience and Sustainability Facility (RSF) upon completion of the second review. That is, if the board approves, Bangladesh will get about 1.15 billion dollars.
The IMF mission team led by Chris Papageorgio gave this information about the third installment after a 15-day visit to Bangladesh on Wednesday.
