The International Monetary Fund has agreed to provide approximately one billion euros to the 10-billion-euro rescue plan for cash-strapped Cyprus, managing director Christine Lagarde said on Wednesday.
This would be through a three-year 891 million Special Drawing Rights (about one billion euro) loan,” Lagarde said in a statement, adding that she expects the deal to go to the IMF executive board for approval in early May.
IMF to provide 1 bn euros to Cyprus rescue
