IMF grants Ukraine $1.3B in emergency financing - Zelensky

The Executive Board of the International Monetary Fund, Ukraine’s major donor, has approved the allocation of nearly US$1.3 billion as part of the Rapid Financing instrument.

That’s according to President Volodymyr Zelensky of Ukraine, who posted the news on Twitter, Ukrinform reports.

"The Executive Board of the IMF has just supported the provision of about $1.3 billion to Ukraine under the Rapid Financing Instrument," the leader tweeted Friday.

Read also: IMF expands Rapid Financing Instrument to provide more emergency financing to Ukraine

The money will be sent to Ukraine “today,” Zelensky added.

The president thanked IMF Managing Director Kristalina Georgieva and the Executive Board for their support.

As reported earlier, the IMF’s Executive Board approved on September 30 a new window under its emergency financing instruments, which will allow Ukraine to request a new disbursement under Rapid Financing Instrument.

Memo. The RFI opens up quick access to financial assistance for countries that urgently need to close their balance of payments gaps, in particular those arising from war.