IMF board approves new $1.2 bln, 4-year loan program for Jordan

The International Monetary Fund's executive board on Wednesday approved a new $1.2 billion, four-year loan program to support Jordan's economic program, replacing a previous loan program that was set to expire in March 2024, the fund said.

The decision gives Jordan immediate access to an initial disbursement of about $190 million, with the remaining amount to be phased over the program, subject to program reviews, the IMF said.