IMF gives Pakistan $1.3B for payments and climate projects
Pakistan received a much-needed $1.3 billion boost from the International Monetary Fund (IMF) this week, split between two programs: the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF).
The State Bank of Pakistan says this cash is meant to stabilize payments abroad and support climate projects, basically, keeping things running smoothly while tackling environmental challenges.
Pakistan receives $1.1B EFF $220 million RSF
Of that total, $1.1 billion came from EFF and $220 million from RSF.
This is part of a bigger deal made in September 2024, with Pakistan set to get up to $7 billion through EFF and $1.4 billion via RSF over 37 months.
So far, they have received about $4.5 billion in total, and this latest chunk should show up in their reserves by May 15.
The IMF approved these funds after reviewing Pakistan's progress, marking another step toward financial recovery during tough times.