The Executive Board of the International Monetary Fund (IMF) has approved the third tranche of $1.115 billion for the $4.70 billion loan.

The loan was approved at the beginning of a meeting held at the IMF headquarters in Washington DC on Monday (June 24) at 9:00 pm Bangladesh time. Executive Director of Bangladesh Bank Mezbaul Haque confirmed the information from the Bangladesh Bank spokesperson's office.

Md. Mezbaul Haque said, "The International Monetary Fund has officially confirmed the third installment of our loan. The IMF has approved a loan of $ 1.115 billion as the third installment. This money will be credited to our account within two working days. If added to the reserve, foreign exchange reserves will increase.

Earlier, a 10-member IMF delegation arrived in Dhaka on April 23 to discuss the third installment of the loan. A meeting was held with Bangladesh Bank on April 25. Financial sector reforms, default loans, implementation of interest rates, monetary policy, inflation, balance and outlook of foreign trade, money market and liquidity management were discussed in the meeting.