WASHINGTON, October 28 – The International Monetary Fund, the European Union and World Bank on Tuesday agreed to a $25.1bn economic rescue package for Hungary to bolster confidence in its economy hit by the global financial crisis.

The IMF said it had reached an agreement with Hungary for a $15.7bn (€12.5bn) loan programme, while the European Union stood ready with an additional $8.1bn in financing and the World Bank another $1.3bn. The IMF loan will be disbursed over 17 months.