© Reuters. FILE PHOTO: International Monetary Fund logo is seen outside the headquarters building during the IMF/World Bank spring meeting in Washington, U.S., April 20, 2018. REUTERS/Yuri Gripas/File Photo
WASHINGTON (Reuters) – The International Monetary Fund on Monday said its executive board approved a $1.04 billion, 40-month Extended Credit Facility loan arrangement for Tanzania, with an immediate disbursement of about $151.7 million. The Fund said in a statement that the financing package would assist Tanzania’s economic recovery, address spillovers from Russia’s invasion of Ukraine, help preserve macroeconomic stability and support structural reforms.