The International Monetary Fund (IMF) has approved an $8.1 billion loan package for Ukraine, with approximately $1.5 billion available for immediate disbursement, the institution announced on Thursday.
The approval comes just days after the fourth anniversary of Russia’s full-scale invasion of Ukraine.
The 48-month arrangement replaces a previous lending program and is designed to help Kyiv maintain economic stability as the conflict enters its fifth year. The new program follows a staff-level agreement reached last November, which required Ukraine to meet key conditions related to budget planning, financial guarantees, and structural reforms.
According to the IMF, the package aims to support macroeconomic and financial stability, ensure debt sustainability, and advance reforms needed for post-war reconstruction.
IMF Managing Director Kristalina Georgieva praised Ukraine’s resilience, stating:
“Despite more than four years of long and devastating war, Ukraine and its people have shown extraordinary strength.”
Ukrainian Prime Minister Yulia Svyrydenko said in a Facebook statement that the first tranche will be used to cover the budget deficit and strengthen financial stability. She added that predictable international financial assistance is crucial, especially as Russia continues regular strikes on Ukraine’s energy infrastructure.
Georgieva further noted that the new program will help preserve hard-won macroeconomic stability while pushing forward structural reforms.
IMF spokesperson Julie Kozack confirmed earlier this month that Ukraine had met all conditions required for board approval.
Since the Russian invasion began on 24 February 2022, several hundred thousand people have been killed, in what has become Europe’s deadliest conflict since World War II.
Alongside the new $8.1B package, the IMF has provided more than $10 billion in assistance to Ukraine since the beginning of the war.
Separately, Ukrainian President Volodymyr Zelensky said on Thursday that he hopes upcoming talks in Abu Dhabi in early March will bring the war closer to an end.
Source: AFP.