Poverty Reduction and Growth Facility

The Poverty Reduction and Growth Facility (PRGF) is an arm of the International Monetary Fund which lends to the world's poorest countries.[1] It was created on September 16, 1999, replacing the Enhanced Structural Adjustment Facility. In 2009 the organization sold 212 metric tons of gold in separate off-market transactions and then gradually sold 191.3 tons of gold to fund the SDR 1¼ billion yearly lending program to the targeted nations.[2]

## References

1. ↑ Shahwan, Najla (2 May 2022). "What's the goal of IMF's new fund for low-income countries?". Daily Sabah. https://www.dailysabah.com/opinion/op-ed/whats-the-goal-of-imfs-new-fund-for-low-income-countries.
2. ↑ International Monetary Fund. (16 March 2021). "Factsheet: Gold in the IMF". IMF website Retrieved 20 June 2021.

## External links

* IMF Factsheet: The Poverty Reduction and Growth Facility

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