The State Bank of Pakistan (SBP) on Wednesday said it had received the second $1.023 billion tranche from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) program.

“SBP has received the second tranche of SDR 760 million (US$ 1,023 million) from the IMF under the EFF program. The amount will be reflected in SBP’s foreign exchange reserves for the week ending on 16th May 2025,” the central bank’s statement read.

The funds come after the Executive Board of the International Monetary Fund (IMF) Friday approved the second loan tranche of $1 billion for Pakistan and a new $1.3 billion program despite India’s attempt to block the approval.

The IMF has promptly released the $1 billion second loan tranche under the EFF, while the $1.3 billion would be distributed over the next 28 months.