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ISLAMABAD, June 23: The International Monetary Fund on Wednesday approved a $250 million tranche under its Poverty Reduction and Growth Facility for Pakistan on 'very concessional terms', official sources said.
In addition the World Bank had approved a soft loan of $90m for the NWFP's Structural Adjustment Credit Facility, sources said. Approving the 8th tranche, the IMF board of directors appreciated the country's economic performance and consistency of policies over the past five-years. Sources said that proceeds of both facilities were expected shortly. -APP
