IMF executive board approves 46-month $3 bln extended arrangement for Egypt

The International Monetary Fund (IMF) executive board has approved a 46-month $3 billion extended arrangement for Egypt, the fund said in a statement.

The decision enables an immediate disbursement of $347 million for Egypt, it added.

The extended fund facility (EFF) is expected to catalyze additional financing of about $14 billion from Egypt’s international and regional partners, the statement said.