Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

IMF Approves $15.6 Billion Aid Plan for Ukraine

Fri 31 Mar 2023 | 11:14 PM
Taarek Refaat

The Board of Directors of the International Monetary Fund (IMF) approved a $15.6 billion aid plan signed with the Ukrainian government, paving the way for Kiev to be granted a first disbursement of $2.7 billion.

The IMF pointed out - in a statement Friday - that the four-year plan will allow "support for gradual economic recovery by providing conditions for long-term growth in the context of post-conflict reconstruction, and on the way to joining the European Union."

On his part, the head of the IMF mission in Ukraine stated that this announcement "is part of a comprehensive strategy that was carefully developed in cooperation with the Ukrainian authorities. The first stage required urgent financing granted last year."