The International Monetary Fund (IMF) approved 1.43 billion euro, another tranche of the 20 billion euro stand-by loan arrangement for Hungary, the Hungarian News Agency MTI reported on Tuesday.

According to the MTI, Hungary would be able to draw this tranche of loan immediately.

Finance Minister Peter Oszko told Parliament's Budget Committee on Tuesday that Hungary would have drawn 14 billion euro of the 20 billion euro arrangement by the end of June.

Oszko said that the IMF and the European Union (EU) had given a positive assessment of the Hungarian government's crisis management program.

Last October, the IMF and Hungary reached an agreement on a 12.5 billion eruo loan under a 17-month Stand-By Arrangement to help Hungary deal with the financial crisis. In a joint bid with the IMF, the EU announced to lend Hungary 6.5 billion euro, and the World Bank agreed to provide Hungary 1 billion euro.　

Source: Xinhua