NAIROBI (Reuters) – The International Monetary Fund said on Friday that it had reached a staff-level agreement with Tanzania on reforms to bolster resilience against climate change backed by about $790 million in financing.
The concessional financing under the IMF’s Resilience and Sustainability Facility is subject to approval by the Fund’s executive board, which is expected to meet in the coming weeks.
The IMF also said in a statement that it had reached a staff agreement on a third review of Tanzania’s Extended Credit Facility arrangement, which is also subject to executive board approval and would unlock a disbursement of about $150 million.
(Reporting by Hereward Holland; Editing by Alexander Winning)
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