Sharjah24 - Reuters: The International Monetary Fund on Monday said its executive board approved a support program for Bangladesh worth $4.7 billion at current exchange rates, making the South Asian country the first to access its new Resilience and Sustainability Facility (RSF).

The funding includes $3.3 billion under the IMF's Extended Credit Facility and Extended Fund Facility programs and $1.4 billion under the new RSF, which aims to help vulnerable middle-income countries and island states.

The board approval of a staff agreement reached last November allows the immediate disbursement of about $476 million to Bangladesh, the IMF said.