Bangladesh is going to get 68 crore dollars as the third installment of the International Monetary Fund (IMF) loan of 470 crore dollars.
Chris Papageorgiou, the head of the delegation of the donor organization visiting Dhaka, gave this information in a press conference in the meeting room of the Ministry of Finance at the Secretariat on Wednesday (May 8).
He said that the delegation of the International Monetary Fund (IMF) has reached an agreement with the officials of Bangladesh to get the third installment loan from the IMF. The donor is now awaiting approval from the agency's executive board in the next few weeks. After the second review, installments of 93 crore dollars will be released.
Regarding getting the loan, the official said, Bangladesh authorities have undertaken important structural reforms under the IMF-backed program. They have implemented a formula based fuel price adjustment policy especially for petroleum products.
Despite various problems including inflation, the IMF has welcomed the steps taken by Bangladesh Bank to realign the exchange rate.
Earlier, in January last year, the IMF approved a loan proposal of 470 crore dollars for Bangladesh subject to the fulfillment of several targets. This loan will be repaid in seven installments till 2026.
The IMF disbursed 44 crore 78 lakh dollars in the first installment in February last year. In December, the second installment of 68 crore 10 lakh dollars were disbursed.