Tuesday12 November 2024
nbn.in.ua

Ukraine is set to receive approximately $1.1 billion in funding from the IMF, according to Shmyhal.

The Executive Board of the International Monetary Fund has approved the fifth review of the Extended Fund Facility (EFF), enabling Ukraine to soon receive a new tranche of approximately $1.1 billion.

This was reported by Prime Minister Denys Shmyhal.

Ukraine will allocate these funds to cover essential non-military budget expenditures.

According to the head of the government, the schedule for tranches in 2025 has been optimized during the review, allowing for the attraction of more resources to the state budget.

Back in September, Ukraine and the IMF reached an expert-level agreement on the fifth review of the EFF economic cooperation program. The government noted that all quantitative criteria and structural benchmarks were met by the end of June.

More about EFF

The Washington-based IMF approved a four-year loan for Ukraine amounting to $15.6 billion in March 2023. The EFF is part of a $122 billion support package for Ukraine aimed at strengthening fiscal, external, price, and financial stability.

This is the first time a loan has been provided to a country in a state of war. The program was coordinated with the European Union, the United States, and other G7 countries that pledged financial assistance to cover Ukraine's budget deficit.

Under the IMF program, Ukraine is set to receive $5.3 billion in 2024.