The International Monetary Fund’s (IMF) Executive Board has scheduled a meeting for December 8, where Pakistan’s next loan tranche is expected to be approved.

According to sources, Pakistan has already fulfilled all conditions for securing the new instalment. These include fiscal reforms, revenue targets and measures to strengthen economic discipline.

Out of the $1.2 billion under consideration, Pakistan is set to receive $1 billion through the IMF loan programme, while an additional $200 million will be provided as climate financing to support the country’s efforts to address environmental challenges.

The IMF has also released the formal schedule for the board meeting.

Pakistan and the IMF reached a staff-level agreement on October 14. Officials say the country has met all requirements for the release of the loan tranche.