Ukraine received approximately $500 million from the International Monetary Fund (IMF), marking the ninth tranche under the country's Extended Fund Facility program, the Ukrainian Ministry of Finance announced in a press release on July 1.
Ukraine's external financing needs to cover the country's budgetary deficit are fully met for 2025, Prime Minister Denys Shmyhal said on May 6.
Japan's funds will be disbursed over 30 years and directed toward budgetary needs and to support reconstruction and development.
The funds represent the latest tranche of the Extended Fund Facility (EFF) program, which will provide Kyiv with $15.6 billion in budget support over four years. With the additional $400 million in funding, the program has now distributed $10.1 billion in financing to Ukraine.
The Executive Board of the International Monetary Fund (IMF) approved the disbursement of $400 million in funds for Ukraine via the Extended Fund Facility (EFF), the IMF announced on March 28.
The European Bank for Reconstruction and Development (EBRD) on March 26 approved a loan of 270 million euros ($290 million) for Ukraine's Naftogaz to purchase gas for the next two winters, Prime Minister Denys Shmyhal said.
"The funds will go towards strengthening Ukraine's defense capabilities," Prime Minister Denys Shmyhal announced on March 7.
This is the first tranche of the planned $20 billion that the U.S. intends to provide as part of the G7 initiative.
The funds come as already the sixth tranche disbursed to Ukraine under the IMF's Extended Fund Facility (EFF) program, raising the amount provided so far to $9.8 billion.
The International Monetary Fund’s (IMF) updated projections for Ukraine outline two scenarios regarding Russia’s ongoing war.
The IMF approved the $1.1 billion tranche after completing its sixth review of the Extended Fund Facility (EFF), a plan to provide Ukraine with over $15 billion in budget support over four years.
Ukraine is already receiving U.S. funds under the framework of the G7's $50 billion loan covered by profits from frozen Russian assets, Prime Minister Denys Shmyhal said on Dec 20.
The funding includes a $1 billion grant from the new $20 billion U.S. loan backed by frozen Russian assets. Another $1.05 billion is supported by the U.K. and Japan.
Ukraine's Finance Ministry and the EU signed a memorandum and an agreement to attract up to 35 billion euros ($36.7 billion) as part of the G7 loan, the ministry said on Dec. 4.
Ukraine has received a $4.8 billion loan from the World Bank through the PEACE project, Prime Minister Denys Shymhal said on Nov. 27.
Since the start of Russia's full-scale invasion in February 2022, Ukraine has received over $100 billion in foreign-backed external financing to support Ukraine's state budget, the country's finance ministry announced on Nov. 15.
Ukraine has received a $1.35 billion grant from the U.S., which will be allocated to humanitarian and social programs, Prime Minister Denys Shmyhal announced on Nov. 13.
The EU is preparing to gather up to 40 billion euros ($44.5 billion) in loans for Ukraine as Budapest keeps disrupting plans on a joint loan with the U.S., the Financial Times reported on Sept. 16, citing sources and a draft proposal.
The IMF team led by Gavin Gray held week-long negotiations with the Ukrainian authorities in Kyiv on the fifth review of the country's 4-year Extended Fund Facility (EFF) program. The EFF is a four-year funding agreement that will allow Ukraine to access $15.6 billion in financial aid in regular installments.
Maxwell Kushnir is a research analyst at the IMF. The contents of this article do not represent the views of any entity associated with the IMF, including staff, management or members of the Executive Board. Only publicly available data is used. Russia’s invasion has caused untold devastation across Ukraine,
"The intensity of hostilities and the risks of a prolonged war, as well as the systematic growth of security and defense sector expenditures, are the key factors that influence the growth of financial needs," Deputy Finance Minister Olha Zykova said.
Ukraine has received 4.2 billion euros ($4.6 billion) as part of the EU's four-year financial support program, Prime Minister Denys Shmyhal said on Aug. 13.
"Now we are constantly discussing with our partners that we need additional financial assurance because the war will continue in 2025, and we need to have a buffer," the minister said. According to Marchenko, the current pledges from partners will not be sufficient.
"These funds will help finance critical budget expenditures, social benefits, and the salaries of doctors and teachers," Prime Minister Denys Shmyhal said.
Ukraine needs $9.5 billion for rapid recovery this year, namely in the defense industry, energy, housing, agricultural, natural resources, and the IT sector, the Finance Ministry said on June 20.
Ukraine is set to receive $2.2 billion from the IMF's Extended Fund Facility (EFF), Prime Minister Denys Shmyhal announced on social media on May 31.
Foreign aid is crucial for Ukraine as the economic pressure caused by the full-scale Russian invasion mounts. The besieged country received $42.5 billion in external financing last year, allowing it to function amid the ongoing war.
Speaking in Washington, IMF Managing Director Kristalina Georgieva said she was "confident" this would be achieved but added that fully addressing the country’s economic problems would require ending Russia's full-scale invasion.
The following is the April 2, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. In March, Ukraine received the largest budget financing from its allies since the beginning of Russia's full-scale invasion
President Volodymyr Zelensky thanked the Japanese prime minister for more than $12 billion in assistance that Tokyo has already provided since the start of the full-scale war, in addition to further support pledged for 2024.
Ukraine will receive a $1.5 billion loan through the World Bank under its "Growth Foundations" Development Policy Loan (DPL) program, Ukraine's Finance Ministry announced on March 26.
The disbursal was the third such tranche of the Extended Fund Facility (EFF), bringing the total distributed so far to $5.4 billion.
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