Lending arrangements, which are similar to a line of credit, are approved by the IMF Executive Board to support a country's adjustment program. The arrangement requires the member to observe specific terms in order to be eligible to receive a disbursement. The IMF lends under Stand-by, Extended, Flexible Credit Line and Precautionary and Liquidity Line arrangements, and at reduced rates, under Poverty Reduction and Growth Trust and Exogenous Shocks Facility arrangements.