The International Monetary Fund said Thursday it had received a loan of 1.95 billion euros (2.9 billion dollars) from Denmark to help increase IMF lending amid the global economic crisis.
The IMF and the Danish central bank signed a loan deal that is part of a commitment made by the European Union last March, the fund said in a statement.
Under that commitment, the EU pledged to contribute up to 75 billion euros (111.5 billion dollars) to support the IMF's lending capacity as member nations struggle to cope with the worst global downturn in decades.
In September the EU pledged an additional 50 billion euros (74.3 billion dollars).
"The signing of the agreement with the Danmarks Nationalbank means the fund can now add these resources to those already available through borrowing agreements signed with other members," the 186-nation institution said.
The boost in IMF resources was requested in April by the leaders of the Group of 20 major developed and developing countries and the International Monetary and Financial Committee, the IMF's policy-steering panel.
The action was taken to allow the IMF "to provide timely and effective balance of payments assistance to its members in the current crisis," the Washington-based fund.
Denmark was the ninth nation to formally sign a loan agreement with the IMF.
Ten other countries also have pledged to lend financial resources the fund, bringing the total amount expected to be raised to more than 500 billion dollars (336.3 billion euros).
