The International Monetary Fund executive board approved on Friday a fresh $1.4 billion loan to Pakistan under its climate resilience fund and approved the first review of its $7 billion program, freeing about $1 billion in cash.

During the IMF meeting, India raised concerns about the effectiveness of IMF programmes in Pakistan, citing its poor track record and the potential misuse of debt financing for state-sponsored cross-border terrorism,

The International Monetary Fund (IMF) on Friday approved the immediate disbursement of about USD 1 billion to Pakistan under the ongoing Extended Fund Faci­li­ty. In a statement, the Washington-based global lender said its Executive Board concluded the initial review of Pakistan's economic reform programme under the Extended Fund Facility (EFF) arrangement.