Pakistan, March 12 -- The International Monetary Fund (IMF) has approved an additional $1.3 billion assistance programme for Egypt under its Resilience and Sustainability Facility (RSF) meant to mitigate the impact of climate change.

The Fund's Executive Board also completed the fourth review of an ongoing aid program, allowing for the immediate disbursement of $1.2 billion to Cairo and bringing the total funds already disbursed to $8 billion.

Under the RSF, the IMF provides long-term loans to finance projects aimed at preparing countries for the effects of global warming and helping them with energy transition.

Egypt is crippled by a huge external debt, which has quadrupled since 2015 to reach $155.2 billion by September 2024. Much of...