• Fund approves $1bn disbursement under EFF and $1.4bn for new climate resilience facility
• India abstains from vote during Executive Board meeting
• PM Shehbaz lauds economic team, slams New Delhi’s false narrative

WASHINGTON: Despite Indian attempts to derail Pakistan’s loan programme, the International Monetary Fund (IMF) on Friday approved two major financing arrangements for the country — a $1 billion disbursement under the ongoing Extended Fund Facility (EFF) and a new Resilience and Sustainability Facility (RSF) aimed at supporting climate-related initiatives.

The approval unlocks a total of $2.1bn for Pakistan, including the $1.4bn under the RSF programme, which spans 28 months and is designed to bolster the country’s resilience to climate-induced shocks.

In March, the IMF reached a staff-level agreement with Pakistan on this new climate financing arrangement, alongside the first review of the 37-month, $7bn EFF programme that was approved in September 2024 — Pakistan’s 24th IMF-supported programme to date.

According to the IMF, this assistance is intended to help Pakistan build resilience and enable sustainable growth.

During Friday’s IMF Exe­cutive Board meeting, India abstained from the vote. Ahead of the decision, Indian officials had raised objections, alleging misuse of global funds by Pakistan — claims that........

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