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:

  1. War-time support – The first phase focuses on funding essential government expenses during the war.
  2. 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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