IMF approves 15 point 6 billion dollar loan to Ukraine
With the war between Ukraine and Russia going on for more than a year, Ukraine’s economy has suffered a major collapse as exports and domestic businesses have come to a complete standstill. As a result, Western countries and international organizations are helping Ukraine to restore its economy.
Meanwhile, the International Monetary Court has approved a $15.6 billion loan to Ukraine to rehabilitate its economy, rebuild damaged Ukrainian cities, and for relief work after Russia’s invasion.
According to the information released by the IMF, this loan will be given in different installments over 4 years and it is part of the 115 billion dollar loan package to be provided by the world. Also, as the first installment, 2.7 billion dollars will be given immediately to Ukraine, and this fund will be used to improve the food and energy sector. It is reported that.
Following this, US Treasury Secretary Janet Yellen said that this financial assistance from the Monetary Fund will protect the economy and financial stability. It will lay the foundation for long-term reconstruction.
IMF approves 15 point 6 billion dollar loan to Ukraine