WASHINGTON (Sputnik) — The IMF said in a press release on Wednesday its executive board has approved an extended arrangement of $285.3 million to Georgia to support the country's economic reform program, with nearly $41 million to be disbursed right away.
"On April 12, 2017, the Executive Board of the International Monetary Fund (IMF) approved a three-year extended arrangement under the Extended Fund Facility (EFF) for Georgia for an amount of SDR 210.4 million (about $285.3 million or 100 percent of quota) to support the authorities’ economic reform program," the release stated.
The approval will allow $40.7 million to be disbursed immediately, and the rest phased in over the remainder of the three years with six semi-annual reviews, the release added.