IMF Approves $15.6 Billion Loan for Ukraine

A source told Reuters that the executive board of the International Monetary Fund approved a funding package of $15.6 billion over four years for Ukraine on Friday to help the country meet urgent financial needs as it continues to defend its territory against the Russian attack. This loan is the largest for Ukraine since the Russian invasion on February 24, 2022, and the first significant financial package approved by the IMF for a country engaged in ongoing conflict. The decision formalizes an expert-level agreement reached by the IMF with Ukraine on March 21 and considers Ukraine's path toward joining the European Union after the war. The agreement is expected to attract significant funding for Ukraine from donors and international partners, including the World Bank and other lenders.