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Friday, the International Monetary Fund and the National Bank of Belgium have signed an agreement to provide the Fund with up to EUR 4.74 billion.
The agreement is part of a commitment made by the European Union in March 2009 to contribute up to EUR 75 billion to support the IMF's lending capacity. The European Union has since committed an additional EUR 50 billion to the Fund's expanded New Arrangements to Borrow.
Also on Friday, the IMF signed agreements with the Slovak Republic and the Central Bank of Malta to provide the Fund with up to EUR 440 million and EUR 120 million, respectively.
These agreements contribute toward an increase in Fund resources that was requested in April 2009 by G-20 leaders and the International Monetary and Financial Committee in order to provide timely and effective balance of payments assistance to its members in the current crisis.
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