KARACHI, Pakistan

The International Monetary Fund (IMF) will provide around $1.4 billion to help Pakistan address the economic fallout of the coronavirus outbreak, the country’s central bank confirmed on Friday.

“IMF Executive Board approves a US$1.386 billion disbursement to Pakistan to address the COVID-19 pandemic,” the State Bank of Pakistan said in a tweet.

In a statement on Thursday, the global lender said the disbursement under its Rapid Financing Instrument will enable Pakistan “to meet the urgent balance of payment needs stemming from the outbreak of the COVID-19 pandemic.”

“The outbreak of COVID-19 is having a significant impact on the

Read more: Pakistan gets $1.4B IMF aid as virus cases top 7,000