The International Monetary Fund (IMF) has approved to disburse $16.9 million to boost Niger’s economy.

The disbursement is under the Fund’s $118. 3 million three –year Extended Credit Facility (ECF) programme for Niger.

The ECF arrangement for the West African country was approved by the IMF’s Executive Board on March 16, 2012.

The IMF announced it has completed the first review of Niger’s economic performance under the programme.

“The decision enables an immediate disbursement of an amount equivalent to SDR 11.28 million (about $16.9 million), bringing total disbursements under the arrangement to an amount equivalent to SDR 22.56 million ($33.8 million),” said the IMF March 28, 2013 in a statement.

In completing the review, the IMF said its Executive Board approved the request for a waiver for nonobservance of the performance criterion on new non-concessional external debt with maturities of one year or more.