Sri Lanka on Friday received a US$ 567 mn concessionary aid package from the International Monetary Fund.
The funds will be disbursed over a three-year period under the IMFs Poverty Reduction and Growth Facility (PRGF) and Extended Fund Facility (EFF), the fund said in a statement on Friday.rn
rnThe IMF said funds amounting to SDR 413.4 mn will support the governments economic reform programme from 2003-6. Of this amount, SDR 269 mn (about US9 mn) is available under the PRGF, and SDR 144.
4 mn (about US$198 million) is available under the Extended Fund Facility (EFF). rn
rnFridays board decision will enable Sri Lanka to draw SDR 59.06 mn (about US mn) from the IMF immediately.
rnThe PRGF is the IMFs concessional facility for low-income countries. It is intended that PRGF-supported programs are based on country-owned poverty reduction strategies adopted in a participatory process involving civil society and development partners and articulated in a Poverty Reduction Strategy Paper (PRSP). r