IMF Provides Ukraine with Almost $900 Million in Funding

Ukraine has received $880 million from the International Monetary Fund (IMF), as announced by Prime Minister of Ukraine Denys Shmyhal on Telegram.

This marks the third tranche of financial support within the Extended Fund Facility (EFF) program.

Shmyhal wrote, “The funds will help cover priority budget expenditures and maintain macro-financial stability.”

On March 21, the IMF's Board of Directors concluded the third review of the EFF agreement for Ukraine, approving the disbursement of approximately $880 million.

Ukraine's EFF agreement, granting access to $15.6 billion, was initially approved on March 31 of the previous year. Political commitments from partners assure Ukraine of $122 billion by 2027, with an expected $5.4 billion from the IMF in 2024.

The Extended Fund Facility aims to provide financial assistance to nations confronting significant medium-term balance of payments challenges due to underlying structural weaknesses. It offers extended program engagement and a prolonged repayment period to assist countries in implementing medium-term structural reforms.

The IMF team said Ukraine will need $486 billion to rebuild from the war.