The International Monetary Fund (IMF) has issued loan funds to Ukraine under the Stand-By Arrangement at 3% per annum, according to the Web site of the Finance Ministry of Ukraine. "The interest rate is 3% per annum, the rate of one-time commission (for funds reservation) - 0.15% (is refunded in proportion to the funds received), the service charge rate - 0.5% of the sum of a tranche. Each tranche of the loan is repaid as follows: a grace period - three years (interest is quarterly paid), the loan principal is repaid in equal installments on a quarterly basis during two years," reads a statement.
As reported, Ukraine has received the first tranche under the Stand-By Arrangement in the amount of $3.2 billion: about $2 billion from the first tranche will be used to support the budget.
The ministry also noted that the IMF’s approval of the stand-by program opened access to additional resources of international financial institutions: in 2014 the government and the central bank of Ukraine may receive up to $13.7 billion, including $7.4 billion of the IMF funds, the funds of the International Bank for Reconstruction and Development (the World Bank Group) – $1.7 billion, the European Bank for Reconstruction and Development – $200 million, the European Investment Bank – $170 million, the European Union – up to $3 billion, the United States government – guarantees worth $1 billion, the government of Japan – up to $100 million, and the government of Canada – $200 million.
