This funding is part of the larger $16 billion Extended Fund Facility (EFF) program.
Allocation of Funds
The newly acquired funds are earmarked for several critical budgetary needs:
- Social Benefits: Ensuring continued support for vulnerable populations.
- Salaries for Doctors and Teachers: Addressing essential public service payrolls to maintain healthcare and education services.
- Other Critical Budget Expenditures: Supporting various essential government functions amid the ongoing economic challenges.
Program Milestones
Prime Minister Shmyhal highlighted that this tranche was granted following Ukraine's successful completion of the fourth revision of the EFF program. This milestone marks the first time Ukraine has reached this stage in its bilateral relations with the IMF.
Acknowledgments
Shmyhal expressed gratitude towards Kristalina Georgieva, the Managing Director of the IMF, and her team for their unwavering support of Ukraine. Their assistance is crucial as the country navigates its economic recovery and stability efforts.
