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Russia to take part in financing 1st tranche of IMF program for Ukraine — finance minister

March 13, 2015, 17:27 UTC+3
The Bank of Russia is to make the payment of $13.7 mln on Friday
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Russian Finance Minister Anton Siluanov

Russian Finance Minister Anton Siluanov

© Dmitry Astakhov/Russian government's press service/TASS

MOSCOW, March 13. /TASS/. Russia will take part in financing the first tranche of the IMF program for Ukraine worth $13.7 mln, Finance Minister Anton Siluanov said Friday.

According to him, the IMF finances the program from its own resources and by attracting funds of its shareholders.

In compliance with is obligations under the IMF agreements Russia will take part in financing the first tranche of the IMF program for Ukraine, he said.

Siluanov said that the Bank of Russia is to make the payment on Friday.

On Thursday, Ukraine received the first five-billion IMF loan tranche. In all, Kiev is to receive $10 billion this year, the chief of the IMF’s mission in Ukraine, Nikolai Georgiyev, said.

Ukrainian Prime Minister Arseniy Yatsenyuk warned that the IMF money was not meant for social programs, and that about $2.7 billion from the first tranche would be spent to support the budget. Ukrainian Finance Minister Natalie Jaresko has confirmed the IMF loan will be used to replenish the gold and foreign exchange reserves and pay the foreign debt.

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