💨 Abstract

The International Monetary Fund (IMF) has approved a $1.3 billion loan for Pakistan to address climate change and has reached a staff-level agreement on the first review of the $7 billion loan. The new agreement, under the Climate Resilience and Sustainability Facility, spans 28 months. Additionally, $1 billion will be freed for Pakistan under the $7 billion bailout program, bringing the total disbursements to $2 billion.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖