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Finance Minister AHM Mustafa Kamal on Wednesday confirmed Bangladesh will get $4.5 billion from the International Monetary Fund (IMF) amid hope that the lending agency will release the first installment of the much-needed loan by next February, reports UNB.
The minister revealed the information while briefing reporters after meeting with the IMF delegation held at the ministry’s conference room at the Secretariat.
He said, “The amount of loan is $4.5 billion. The loan will be available in seven installments until 2026. I hope that the IMF will be able to release the first installment of SDR352.35 million by next February. The remaining loan will be available in six equal installments of SDR 519 million every six months until December 2026 under Special Drawing Rights (SDRs).”Kamal said that the IMF mission has informed this according to their action plan. All the formalities and final board approval of the loan proposal will be completed within the next three months.
Earlier, the delegation IMF and Bangladesh authorities have reached a staff-level agreement to support the country’s economic policies – with a 42-month arrangement – with about $3.2 billion under extended credit facility and extended fund facility as well as $1.3 billion under resilience and sustainability facility.
Bd-pratidin English/Golam Rosul
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