The International Monetary Fund (IMF) says its executive board has approved an 18-month, $5 billion stand-by arrangement for Ukraine aimed at helping the country cope with the COVID-19 pandemic.
The approval means Ukraine can receive an immediate disbursement of about $2 billion, with the remaining amount disbursed in phases over four reviews during the 18-month period, the IMF said in a statement.
The amount is $200 million more than originally planned, Ukrainian President Volodymyr Zelenskyy said on Twitter.
“The new program funding will help us to overcome the challenges caused by #COVID19. The #IMF has proven itself to be a reliable partner to a friend in need,” Mr. Zelenskyy said.