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Reuters

Business

By Andrea Shalal and David Lawder

IMF approves $15.6 billion Ukraine loan, part of $115 billion in global support

International Monetary Fund Ukraine the International Monetary Fund

Ukraine's President Volodymyr Zelenskiy speaks with Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva via videolink, as Russia's attack on Ukraine continues, in Kyiv, Ukraine May 20, 2022. Ukrainian Presidential Press Service/Handout via REUTERS

The International Monetary Fund said on Friday its executive board approved a four-year $15.6 billion loan program for Ukraine, part of a global $115 billion package to support the country's economy as it battles Russia's 13-month-old invasion.

The decision clears the way for an immediate disbursement of about $2.7 billion to Kyiv, and requires Ukraine to carry out ambitious reforms, especially in the energy sector, the Fund said in a statement.

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