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December 7, 2001 		Feedback  
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IMF approves $1.309 billion soft loan for Pakistan

In yet another sop for its supportive role in the United States-led war in Afghanistan, the International Monetary Fund (IMF) has approved a three-year soft loan of $1.309 billion for Pakistan.

Islamabad can draw $109 million of the loan, approved under the Poverty Reduction and Growth Facility (PRGF) programme, immediately, IMF spokesman William Murray said on Thursday.

PRGF loans carry an annual interest of 0.5 per cent and are repayable over 10 years with a 5.5 year grace period on principal payments.

The last IMF programme for Pakistan, worth $600 million, expired in September when the fund released a final tranche of $135 million for the country.

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