The International Monetary Fund (IMF) has approved a $1.29 billion tranche for Pakistan, offering a major boost to the country’s economy. The IMF Executive Board met in Washington on Monday and cleared the disbursement, with $200 million earmarked for climate-related projects. Pakistan had already secured staff-level approval after meeting all required conditions, including the release of the Corruption and Governance Diagnostic Report ahead of the Board meeting. Authorities say the fulfillment of these commitments paved the way for the successful approval of the latest IMF installment.