Washington: The International Monetary Fund (IMF) has provided Ireland with a third bailout package of USD 2.11 billion under an international rescue deal.

“The arrangement for Ireland, which was approved December 16, 2010 is a part of a financing package amounting to 85 billion euros (about USD 123 billion) also supported by Ireland's European partners and bilateral loans from the United Kingdom, Sweden and Denmark, and Ireland's own contributions,” the IMF said in a press release. 

Ireland was badly hit by the 2008 financial crisis.  

The programme to rescue Irish banks is aimed at their recapitalization in 2011-13 to reach the credit-deposit ratio of 122 percent and bring the capital adequacy ratio to 10.5 percent by the end of the bailout period.