IMF Greenlights $15.6 Billion Ukraine Loan Program
The loan is the first major conventional financing program approved by the IMF for a country embroiled in a large-scale war
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The loan is the first major conventional financing program approved by the IMF for a country embroiled in a large-scale war
IMF said on Friday its executive board approved a four-year $15.6 billion loan program for Ukraine.
The decision clears the way for an immediate disbursement of about $2.7 billion to Kyiv, and requires ambitious reforms of Ukrainian officials, especially in the energy sector, the Fund said in a statement.
The IMF Board approved a new four-year extended arrangement under the Extended Fund Facility (EFF) of SDR 11.6 billion (about $15.6 billion) as part of a $115 billion total support package for Ukraine, the fund said on its website.
This is the first major conventional financing program approved by the International Monetary Fund for a country involved in a large-scale war