The International Monetary Fund has approved a large funding to war-torn Ukraine. The lower house of the US Congress has passed a financial plan that includes a US 13.6 billion (EUR 12.3 billion) package to support security of Ukraine and US allies in Eastern and Central Europe, British news portal The Guardian and Ukrainian public broadcaster Ukrinform report.
The IMF’s executive board has approved this week USD 1.4 billion (EUR 1.26 billion) in emergency funding for Ukraine, and predicted a «deep recession» in Ukraine this year. In a statement, it expressed its «strong support for the Ukrainian people». IMF managing director Kristalina Georgieva, in turn, announced that once the war is over, the country is likely to need additional «large support», The Guardian reports.
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The US House of Representatives has approved a draft spending law, which includes allocation of USD 13.6 billion to assistance Ukraine and US allies in Europe. The funding will be aimed at humanitarian and economic assistance, and to improve the defence capabilities of Ukraine and U.S. allies in the Baltics, as well as Central and Eastern Europe, Ukrinform reports.
IMF and US approve large financial support to Ukraine
