The International Monetary Fund’s Board of Directors allocated a $900 million tranche for Ukraine, Ukrainian President Volodymyr Zelenskyy said.
During a working visit to the US, President of Ukraine Volodymyr Zelenskyy held a meeting with Managing Director of the International Monetary Fund Kristalina Georgieva and discussed ways of external financing for Ukraine in 2024 and mobilization of financial support for the country from international partners, the Presidential Office has reported.
“This great support is very important for Ukraine and the Ukrainian people. In times of war, a secure financial system is crucial,” Zelenskyy said, thanking the IMF for the latest tranche.
The Ukrainian leader and Georgieva also discussed the development of an effective mechanism for using frozen Russian assets for the benefit of Ukraine, in particular as a source of alternative budgetary support and investment aimed at the reconstruction of the country.
Earlier, the IMF had established a new capacity development fund to support reforms in Ukraine as the country continues transforming its economy while fighting Russia’s invasion.
As of 15 October, Ukraine received $14 million from donors of the fund, with a target of raising $65 million, according to Andrii Pyshnyi, the head of Ukraine’s National Bank.