Afghanistan, Dec. 9 -- The International Monetary Fund has approved a new $1.2 billion loan for Pakistan to support economic stabilization and strengthen resilience against climate-related crises.
The IMF confirmed the decision on Monday, December 8, after an executive board meeting in Washington, stating that the loan falls under its dual-track economic rescue framework.
According to the IMF, the funds are intended to help Pakistan improve its financial stability while preparing for climate shocks, natural disasters, and infrastructure vulnerabilities.
Pakistani newspaper Dawn reports that the latest payment brings the total disbursement under the Extended Fund Facility and Resilience and Sustainability Facility to nearly $3.3 billion....