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IMF board approves $15.6 bln loan package for Ukraine

World Materials 31 March 2023 23:23 (UTC +04:00)
IMF board approves $15.6 bln loan package for Ukraine

The International Monetary Fund said on Friday its executive board approved a four-year $15.6 billion loan program for Ukraine, part of a broader $115 billion international support package to help the country meet urgent funding needs, Trend reports citing Reuters.

The decision clears the way for an immediate disbursement of about $2.7 billion to Kyiv, the Fund said in a statement.

The Extended Fund Facility (EFF) loan is the first major financing program approved by the IMF for a country involved in a large-scale war. Ukraine's previous $5-billion IMF program expired last year.

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