The World Bank and the International Monetary Fund (IMF) are ready to support Ukraine with $3bn in financing in the coming months. The first tranche to support the Ukrainian budget will amount to $350m, according to a joint statement by the two global financial institutions. The IMF has also given Ukraine access to $2.2bn under the Stand-By Programme.
IMF Managing Director Kristalina Georgieva and World Bank President David Malpass made the statement. “Our institutions are working together to support Ukraine on financial and political fronts and are urgently increasing that support,” they said. The IMF board will consider Ukraine’s request for emergency financing next week.
Ukraine will have access to $2.2bn of additional IMF Stand-By Arrangement financing from early March until the end of June. The World Bank, together with the IMF, is preparing a $3bn support package in the coming months. From this package, $350m is scheduled to be approved this week for Ukraine’s budget support, followed by a $200m payment for Ukraine’s health and education sectors.
source: imf.org
