15.6 billion dollar loan from IMF to Ukraine

15.6 billion dollar loan from IMF to Ukraine

The US-based International Monetary Fund (IMF) announced that it has approved a $15.6 billion loan program to be given to Ukraine as part of the $115 billion global support package.

The IMF announced on March 22 that an agreement was reached on the basis of delegations and that the economic program that will provide 48-month funding support to Ukraine was sent to the IMF Executive Board for final approval.

Stating that the board of directors approved the loan yesterday, the IMF said, "The IMF Board approved the new regulation, which was extended for 48 months, within the scope of the Extended Fund Facility of approximately 15.6 billion USD, within the scope of a total support package of 115 billion USD for Ukraine."

Ukraine's EFF-backed program is planned to consolidate and stabilize Ukraine's budget in the first phase, while in the second phase it aims to strengthen institutions to support post-war reconstruction and long-term growth on Ukraine's EU accession path. The Executive Board's decision allows for immediate payment of approximately 2.7 billion USD.

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