The International Monetary Fund (IMF) at its December board meeting Tuesday, approved the release of a second tranche of a $4.7 billion loan that was approved last January. This second transfer will see $682 million transferred to Bangladesh`s account, to go with close to $450 million in the first transfer.
Alongside the $400 million the country received as loan from the Asian Development Bank (ADB), the IMF monies will help to ease significant pressure that has been building on the country`s forex reserves in the last two years.
Finance minister AHM Mustfa Kamal confirmed it to UNB last night.
The IMF board approved the $4.7 billion loan on January 30.
In the first tranche, Bangladesh received $447.8 million on February 2 this year. The country is expected to receive the rest in another five tranches.
Earlier, in October, an IMF delegation came to Bangladesh on a two-week visit, reviewed the loan programme and placed the second loan tranche proposal before the IMF board.
