News Brief: IMF Gives Final Approval of Second Review of Cambodia's PRGF Loan
January 30, 2001
The Executive Board of the International Monetary Fund (IMF) has given its final approval of the second review of Cambodia's performance under the Poverty Reduction and Growth Facility (PRGF).
The final decision by the IMF Executive Board was contingent on a decision by the Executive Board of the World Bank on January 23, 2001. That decision concluded that the interim Poverty Reduction Strategy Paper (PRSP) for Cambodia provides a sound basis for the development of a full PRSP and for concessional assistance by the World Bank.
The completion of the second review releases immediately a further SDR 8.357 million (about US$11 million) from the PRGF loan (see News Brief 01/6).