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Ukraine receives $880 mln tranche from IMF

Ukraine receives $880 mln tranche from IMF Photo: Ukrainian Prime Minister Denys Shmyhal (Vitalii Nosach, RBC-Ukraine)

Ukraine has received $880 million from the International Monetary Fund. This is the third tranche of financial support within the Extended Fund Facility (EFF) program, notes Ukrainian Prime Minister Denys Shmyhal in his post on Telegram.

"The funds will help cover priority budgetary expenditures and support macroeconomic stability," he announced.

IMF Program

Ukraine's EFF agreement with access to $15.6 billion was approved on March 31, 2023. Ukraine has received political commitments from its partners to provide $122 billion by 2027. It is expected that the IMF will provide Ukraine with $5.4 billion in 2024.

On March 21, the IMF Board of Directors completed the third review of the agreement under the Extended Fund Facility (EFF) program for Ukraine and approved the disbursement of a tranche of approximately $880 million.

In addition, on March 20, the European Commission transferred the first tranche of financing to Ukraine for 4.5 billion euros. Also, on March 20, Ukraine received $1.5 billion from Canada.

Earlier, the National Bank of Ukraine (NBU) noted that the part of the international assistance to Ukraine of $10 billion in March-April will enter the foreign exchange market and affect the situation.