IMF approves 15.6 billion dollar support package for Ukraine

The International Monetary Fund (IMF) has approved a 15.6 billion US dollar support package for Ukraine to assist with the conflict-hit country’s economic recovery. The loan is part of a broader 115 billion US dollar international support package to help the country meet urgent funding needs.

Of the total amount approved by the IMF, 2.7 billion dollar is being made available to Ukraine immediately and the rest of the funds are due to be released over the next four years. Extended Fund Facility is the first major financing programme approved by the IMF for a country involved in a large-scale war.