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Ukraine may receive over $10 billion in aid in March-April - NBU chief

Ukraine may receive over $10 billion in aid in March-April - NBU chief Head of the NBU Andri Pyshnyi (facebook.comNationalBankOfUkraine)
Author: Maria Kholina

The risk of insufficient international funding for Ukraine persists, but recent developments have shown positive shifts in this matter, according to the head of the National Bank of Ukraine, Andrii Pyshnyi.

"Ukraine may receive more than $10 billion in March-April. The activation of external assistance inflows in the near future will significantly increase international reserves," he said.

Pyshnyi reminded that at the end of February, the EU Council approved the establishment of the Ukraine Facility instrument with a total volume of €50 billion for the years 2024-2027. Within this framework, Ukraine is set to receive transitional financing of €4.5 billion in March.

"Ukraine has also reached an agreement at the staff level regarding the third review of the program with the International Monetary Fund and awaits the decision of the Fund's Board of Directors within a week," said the head of the National Bank of Ukraine.

Aid to Ukraine

Ukraine and the European Union signed an agreement on transitional financing for Ukraine on March 12. The total volume of provided concessional funds is €6 billion. The first payment of €4.5 billion will be transferred to the State Budget of Ukraine already in March. The rest of this amount - €1.5 billion - is set to be received in April 2024 after the evaluation of indicators by the European Commission.

The Board of Directors of the International Monetary Fund intends to consider providing Ukraine with a tranche of $880 million in the second half of March.