Extended fund arrangement part of $115 billion overall support package for the war-torn country
The International Monetary Fund (IMF) approved a $15.6 billion loan program for Ukraine on Friday, despite the country’s ongoing conflict with Russia.
The four-year Extended Fund Facility (EFF) arrangement is part of Ukraine’s $115 billion total assistance package.
“Ukraine’s EFF-supported program aims to anchor policies that sustain fiscal, external, price, and financial stability and support economic recovery while enhancing governance and strengthening institutions to promote long-term growth in the context of post-war reconstruction and Ukraine’s path to EU accession,” according to an IMF statement.
“The EFF’s approval is expected to mobilize large-scale concessional financing from Ukraine’s international donors and partners, assisting Ukraine in resolving its balance of payments problem, achieving medium-term external viability, and restoring debt sustainability on a forward-looking basis in both a baseline and downside scenario,” it added.
