Ukraine received the first $2.7 billion tranche under the International Monetary Fund’s (IMF) Extended Fund Facility programme yesterday, finance minister Sergiy Marchenko said.
“Grateful to our partners for supporting Ukraine on the way to victory,” Marchenko wrote on Twitter.
The board of the International Monetary Fund (IMF) had approved a four-year $15.6bn extended fund facility (EFF) programme for Kyiv following discussions last month.
The EFF programme was agreed on March 21 and consists of two phases. The first phase, lasting 12 to 18 months, aims to strengthen fiscal, external, price and financial stability by bolstering revenue mobilisation, avoiding monetary financing, and promoting central bank independence.
The second phase includes extensive reforms for recovery and reconstruction, measures to support Ukraine’s EU accession goals, and enhancements to financial resilience and long-term growth.
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