KATHMANDU: The International Monetary Fund (IMF) has approved the Extended Credit Facility (ECF) for Nepal.

The IMF Executive Board endorsed the sixth review of Nepal’s ECF program, granting approval for continued support under the facility.

According to Finance Minister Rameshore Khanal, Nepal successfully completed the sixth review of the IMF’s ECF arrangement.

Sharing the update on Facebook on Thursday morning, Minister Khanal confirmed that the IMF Board meeting had endorsed Nepal’s sixth ECF review.

With this approval, Nepal has opened the door to receive additional financial assistance under the ECF program.