The International Monetary Fund's board of directors has approved a four-year, $15.6 billion EFF loan program for Ukraine, Reuters reports, citing sources.
The loan will be the largest for Ukraine since the beginning of the war and the first major financial assistance package for a country at war.
The decision follows the IMF's agreement with Ukraine signed on March 21, which takes into account Ukraine's post-war path to join the European Union.
The agreement is expected to help unlock large-scale financing for Ukraine from international donors and partners, including the World Bank and other lenders.
As a reminder, negotiations between Ukraine and the International Monetary Fund on the IMF financial support program were held in Warsaw from March 8 to 15. "Very significant progress has been made in agreeing on a number of strategies that could form the basis of a program supported by the Fund. Building on this progress, the staff and authorities expect to finalize the discussions in the coming days," said Vahram Stepanyan, IMF Resident Representative in Ukraine.