Ukraine received the sixth tranche of $1.1 billion under a joint program under the Extended Fund Facility (EFF).
Points of attention
- Ukraine received the sixth tranche from the IMF in the amount of $1.1 billion to finance critical budgetary needs.
- The funds received will be directed to urgent financial needs and post-war reconstruction under the Extended Fund Facility program.
- The IMF's Extended Fund Facility aims to provide Ukraine with a loan of $15.6 billion.
- In May 2024, Ukraine and the IMF began negotiations on the fourth review of the Extended Fund Facility.
- The approved tranche is the first major financing package for a country at war.
Where will the funds from the new tranche from the IRF be directed?
As reported by Prime Minister of Ukraine Denys Shmyhal, these funds have already been credited to Ukraine's accounts and will be used to finance critical budget needs.
In total, Ukraine received $9.8 billion from the IMF under this program.
What is important to know about the IMF cooperation program “Extended Financing Facility”
On March 31, the IMF Executive Board approved a four-year extended financing program under the Extended Fund Facility (EFF).
The Fund emphasizes that this is a loan of $15.6 billion for Ukraine.
As mentioned earlier, the program consists of two parts: urgent funding until the war is won; and post-war reconstruction.
This loan is the first large package approved by the IMF for a country at war. Over the past year, 2023, Ukraine has already attracted about $4.5 billion of this $15.6 billion. In May 2024, Ukraine and the IMF began negotiations on the fourth review of the Extended Fund Facility.
We remind you that in June 2024, a new tranche of $2.2 billion was allocated to Ukraine.
