"The board's approval enables the immediate disbursement of the full amount of this emergency assistance," the Washington-based body said in a statement.
The IMF said they hoped the cash would "help the country manage the immediate aftermath of the massive and devastating floods that have hit the country" and spur more lending by international donors.
The loan is designed to help Pakistan fill the budget hole left by flooding. "Pakistan's economic outlook has deteriorated sharply as a result of the floods. The agriculture sector, which accounts for 21 per cent of Gross Domestic Product and 45 per cent of employment, has been hit particularly hard" the IMF said.
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