IMF announces $690M tranche for Ukraine under new lending program

The Executive Board of the International Monetary Fund (IMF) approved a $690 million tranche for Ukraine under a new lending support program, according to a statement released by the fund's press service on Monday, Report informs.

The statement said IMF experts completed the first review of Kyiv's four-year lending program worth a total of $8.1 billion.

"The IMF Executive Board completed the First Review of Ukraine's 48-month Extended Fund Facility (EFF) arrangement, enabling an immediate disbursement of SDR 503 million (about $690 million). Ukraine's performance under the program has been broadly satisfactory," the document said.

A preliminary agreement on allocating the tranche to Ukraine was reached on June 12 this year.