Ukraine receives $1.1 billion from IMF: How funds to be spent
Denys Shmyhal, Prime Minister of Ukraine (photo: Vitalii Nosach, RBC-Ukraine)
According to Ukrainian Prime Minister Denys Shmyhal, Ukraine has received the sixth tranche of the joint program under the Extended Fund Facility (EFF) of $1.1 billion.
Shmyhal says that the funds have already been transferred to Ukrainian accounts and will be used to finance critical budget expenditures.
“In total, Ukraine has already received $9.8 billion from the IMF under this program,” he added.
The IMF's EFF program
On March 31, the Executive Board of the International Monetary Fund (IMF) approved a four-year Extended Fund Facility (EFF), under which Ukraine will receive a loan of $15.6 billion.
The program has two main phases: the first is urgent financing for the period until the end of the war, and the second is support for post-war recovery.
Also in 2023, Ukraine has already received about $4.5 billion of the total amount. In May 2024, the Ukrainian government began discussions with the IMF on the fourth review of the program. As a result of these negotiations, on June 28, the IMF approved a new tranche of $2.2 billion for Ukraine.
Recently, it was reported that the IMF Executive Board completed the sixth review of the EFF program.
