New Delhi, March 28 -- The International Monetary Fund and Pakistan have reached a staff-level agreement under which the fund will disburse approximately $1.2 billion to Islamabad in funding, the organisation said on Saturday.

The agreement is part of Pakistan's loan programme, which was floated after the country faced a severe economic crisis.

In a statement, the IMF said that the two sides successfully concluded the third review of the Extended Fund Facility (EFF) and the second review under the Resilience and Sustainability Facility (RSF).

The agreement requires the approval of IMF's board, following which Pakistan can access $1 billion under the Extended Fund Facility and $210 million under the Resilience and Sustainability Facilit...