IMF Unlocks $1.3 Billion for Bangladesh Resilience
The International Monetary Fund approved $884 million for Bangladesh under the Extended Credit and Fund Facilities. Additionally, $453 million was allocated through the Resilience and Sustainability Facility to enhance economic resilience against climate change.
On Monday, the International Monetary Fund announced that Bangladesh will receive $884 million following the conclusion of a combined third and fourth review under the Extended Credit Facility and Extended Fund Facility.
In a significant move, the IMF's executive board completed combined reviews of Bangladesh's arrangements under the Resilience and Sustainability Facility. This decision allows the provision of approximately $453 million to strengthen the country's economic resilience in the face of climate change challenges.
The allocations are set to bolster Bangladesh's economic standing and enhance its capacity to weather the impacts of climate change effectively.
(With inputs from agencies.)
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