Washington, DC (BBN) - The International Monetary Fund (IMF) has approved US$258.3 million more under the Extended Credit Facility (ECF) arrangement for Bangladesh.
The IMF took the decision at its Executive Board meeting on October 21 after completing the fifth and sixth reviews of Bangladesh’s economic programme under the three-year arrangement supported by the ECF.
The three-year ECF arrangement for Bangladesh was approved by the Executive Board on April 11, 2012 for a total amount equivalent to SDR 639.96 million (about US$904.2 million), or 120 percent of quota.
The arrangement was extended first to July 31 and then to October 31, 2015, an IMF statement said.
“The Executive Board’s decision enables the immediate disbursement of an amount equivalent to SDR 182.845 million (about US$258.3 million) to Bangladesh, bringing total disbursements under the arrangement to SDR 639.96 million (about US$904.2 million),” it noted.
BBN/SSR/AD