The International Monetary Fund (IMF) has linked Pakistan’s access to $1.3 billion in climate financing to the successful implementation of its $7 billion Extended Fund Facility (EFF) program, Finance Ministry sources informed ProPakistani.
The funds will be disbursed based on the completion of each six-monthly economic review under the $7 billion EFF program.
The IMF Executive Board is expected to approve the funding within the next four to six weeks, though delays are possible due to the Fund’s annual spring meetings.
The EFF, spanning 37 months, mandates periodic reviews, with each successful review unlocking both the next tranche of economic support and the climate financing allocation. The climate financing program itself will last 28 months, sources added.
Stay Connected with ProPakistani
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
Well played imf, very well played.