: :inin Kyiv (EET)

Continued cooperation with IMF to bring Ukraine $5 bn from external creditors – finance minister


Continuation of cooperation of Ukraine with its key creditor, the International Monetary Fund, whose mission is currently visiting Kyiv, will open the possibility for the country to receive an additional $5 billion in loans from other external creditors, according to Oleksandr Danylyuk, Ukraine`s Finance Minister, who spoke at the annual meeting of the European Bank for Reconstruction and Development in London.
”Cooperation with the IMF provides an opportunity to receive support from our other international partners, amounting to about $5 billion. It is very important. Moreover, it is a very important signal to the international community and the investors,” Danylyuk said.
As UNIAN reported earlier, the IMF mission would be working in Kyiv on May 10-18 to discuss on and complete the second review of the assistance program, approved in March 2015. The total amount of aid under this program is set at $17.5 billion. Ukraine has already received two tranches of the loan: $5 billion on March 13 and $1.7 billion on August 4, 2015.
According to the NBU estimates, the amount of undrawn funds under the program with the IMF is $11 billion, while under the related loans from the EU – EUR 1.2 billion, and from the U.S. – another $1 billion. In addition, the program with the IMF will allow Ukraine to rely on financial support from the G7 governments and several large banks – the World Bank, EBRD, and EIB.
Earlier, the Ministry of Finance noted that before the year end, Ukraine expects to receive from all sources of funding nearly $10 billion in loans.

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