The National Bank of Ukraine has announced that International Monetary Fund (IMF) funds worth $1 billion in the equivalent have arrived in Ukraine.
This was the third disbursement authorized by the positive review by the IMF`s Executive Boards of the Extended Fund Facility program on September 14, the NBU said.
Ukraine`s Finance Ministry said that the loan had been raised at 3% per annum, the rate of one-time commission for booking the funds is 0.15%, and the servicing rate is 0.5% of the sum of the tranche.
Every tranche is serviced with due regard for a three-year grace period, and interest is paid every quarter. After the grace period is over, principal debt shall be paid in equal parts every quarter in the next two years.
NBU Governor Valeriya Gontareva earlier said that the money would be used to replenish the country`s gold and forex reserves.
In her words, the IMF will soon publish an updated memorandum with conditions for further cooperation with Ukraine.