Ukraine receives $1.1 billion loan from IMF
Source: Prime Minister Denys Shmyhal/Telegram
Ukraine has secured another tranche under the Extended Fund Facility (EFF) program from the International Monetary Fund (IMF), amounting to $1.1 billion. The funds have already been sent to the state accounts and will be used to cover “critical budgetary expenditures”, said the country’s PM Denys Shmyhal.
Ukraine has received $9.8 billion as part of the EFF program that was approved by the IMF executives on March 31, 2023 – it spans four years with a total credit allocation of $15.6 billion.
The EFF is divided into two key phases:
- War-time support – The first phase focuses on funding essential government expenses during the war.
- Post-war recovery – The second will help finance Ukraine’s reconstruction and economic recovery after the war.
Ukraine received approximately $4.5 billion under the program in 2023.
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