(Special for CAFS) IMF approves 3-year loan facility for Somalia

MOGADISHU, Dec. 20 (Xinhua) -- The International Monetary Fund (IMF) said its board has approved a new three-year arrangement under the Extended Credit Facility (ECF) for Somalia in the amount of 100 million U.S. dollars.

The IMF said in a statement released on Tuesday night that Somalia has made considerable progress in strengthening key economic and financial institutions as well as improving governance.