The State Bank of Pakistan has announced it has received the second tranche of funding from the International Monetary Fund under the Extended Fund Facility programme.
According to an official statement issued by the central bank on Wednesday, Pakistan has received Special Drawing Rights 760 million, equivalent to $1.
023 billion, as part of the second instalment under the EFF agreement.
The SBP said the received amount will be reflected in the country’s foreign exchange reserves for the week ending May 16.
The disbursement follows the IMF Executive Board’s approval on May 9, which also cleared a new $1.
4 billion arrangement under the Resilience and Sustainability Facility to support Pakistan’s climate resilience initiatives.
With this, total disbursements under the EFF have reached approximately $2.
1 billion (SDR 1.
52 billion).
