Kathmandu. The International Monetary Fund (IMF) has approved the Extended Line of Credit (ECF) to Nepal.

According to Finance Minister Rameshwor Khanal, the sixth review of the IMF’s Extended Debt Facility (ECF) has been completed. The meeting approved the ECF.

The Finance Minister informed that the IMF Board has endorsed the sixth review of the ECF in Nepal. With this, Nepal will now receive about 40 million US dollars.

The IMF Executive Board in January 2021 had decided to provide Nepal with concessional loan of USD 398.8 million over a period of four years. Nepal has already received the fifth tranche. Now the sixth installment will also be received.