The International Monetary Fund (IMF) executive board approved a loan of 4.7 billion dollars at its Washington headquarters on Monday. This translates to 49 thousand 350 crore taka at an exchange rate of 105 taka per dollar. The IMF stated that the first installment of 476 million dollars will be disbursed soon.
Majbaul Haque, the Bangladesh Bank spokesperson, informed that on Thursday, 476.17 million dollars from an IMF loan had been deposited into their account. This has led to an increase in the country’s foreign exchange reserve, which now stands at 32.69 billion dollars.
The IMF previously stated that the loan will be disbursed in seven installments over the course of 42 months. The loan is intended to support Bangladesh in maintaining macroeconomic stability, safeguarding vulnerable populations, and promoting inclusive and environmentally sustainable growth. Bangladesh is the first country to receive a loan from the RSF Fund. The Bangladesh government made a request for a loan to the IMF on July 24th of the previous year.