Bangladesh receives $1.15b in third tranche

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The International Monetary Fund (IMF) has disbursed the third tranche – $1.15 billion – of its $4.7 billion loan to Bangladesh. It has pulled up the country's foreign exchange reserves to $26.5 billion.

Mezbaul Haque, spokesperson of Bangladesh Bank, confirmed the development to Prothom Alo, saying the loan installment has been added to the foreign currency reserve at the central bank.

The IMF extended its approval to disbursal of the third tranche on Monday.

Bangladesh received the maiden installment – $476.3 million – of the IMF loan in February last year, while the second one – $681 million – in December.

With the latest disbursement, the amount of disbursed loan now stands at $2.31 billion, and the remaining $2.39 billion will come in four more tranches.