Prime Min­­is­ter Shehbaz Sharif on Wednesday expressed the hope that the $3 billion short-term bailout for the country would be given final approval by the Intern­ational Mone­tary Fund board when it meets on July 12 and vowed to fulfil all commitments made to the lender.

The premier pointed out that a staff-level agreement had already been finalised at a ceremony in Islamabad commemorating ten years of the China-Pakistan Economic Corridor (CPEC).

After eight months of negotiations, both sides signed the staff-level deal on Friday. Finance Minister Ishaq Dar has said Pakistan will receive a first instalment of $1.1 billion, but the IMF board’s approval is needed before funds can be disbursed.