IMF board approves US$15.6 billion loan for Ukraine – Reuters
The IMF executive board on Friday approved a four-year US$15.6 billion financing package for Ukraine to help the country meet urgent funding needs amid the ongoing war.
Source: Reuters, citing a source briefed on the decision
Quote: "The loan is Ukraine's biggest since Russia's full-scale invasion on [24 February 2022], and the first major package approved by the IMF to a country involved in an active conflict," the agency reports.
The decision formalises an IMF staff-level agreement reached with Ukraine on 21 March.
The agreement is expected to help unleash large-scale financing for Ukraine from international donors and partners, including the World Bank and other lenders.
"The International Monetary Fund’s board signed off on a $15.6 billion aid package for Ukraine, the final approval for the institution’s first-ever loan to a nation at war," Bloomberg reports.
It was reported that on Friday, 31 March, the Board of Directors of the IMF will consider Ukraine's request to open a new four-year program of extended EFF funding.
Ukraine and the International Monetary Fund have reached a staff-level agreement on a new program worth US$15.6 billion for a period of four years.
The IMF changed the lending rules for the future support program for Ukraine.
The International Monetary Fund is ready to provide significant economic support to Ukraine under a new full-fledged loan program.
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