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IMF approves support package for Bangladesh
The International Monetary Fund's executive board has approved a 4.7 billion dollar support programme for Bangladesh. The country will be the first South Asian country to access IMF's new resilience and sustainability facility. The funding includes $3.3 billion under the IMF's extended credit facility and extended fund facility programs and $1.4 billion of the funding has been granted under the new resilience and sustainability facility. IMF says the 43-month borrowing package will enable greater social and developmental spending. It will boost fiscal and governance reforms and help preserve macroeconomic stability. The funding will help Bangladesh build economic resilience and protect vulnerable and foster clean and green growth. The funding from resilience and sustainability facility will also help support the country's climate adaptation and mitigation efforts.
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