IMF, WB eye issuing $4.4B to Ukraine

Already next week, the International Monetary Fund (IMF) plans to make a decision on emergency financing of Ukraine for $1.4 billion, reads a joint statement by IMF Managing Director Kristalina Georgieva and World Bank Group President David Malpass, Report informs.

“At the IMF, we are responding to Ukraine’s request for emergency financing through the Rapid Financing Instrument, which our Board could consider as early as next week. At the World Bank Group, we are preparing a $3 billion package of support in the coming months, starting with a fast-disbursing budget support operation for at least $350 million that will be submitted to the Board for approval this week, followed by $200 million in fast-disbursing support for health and education. This package will include the mobilization of financing from several development partners, and we welcome the already-announced support from many bilateral partners,” reads the message.

“In addition, we continue to work on Ukraine’s Stand-By Arrangement program, under which an additional $2.2 billion is available between now and the end of June.”