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Kiev expecting six tranches from IMF and EU worth $6 bln this year

January 26, 18:57 UTC+3 KIEV
In March 2015, the IMF adopted a four-year loan program for Ukraine worth $17.5 billion
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© Alexandr Demyanchuk/TASS

KIEV, January 26. /TASS/. The National Bank of Ukraine expects six tranches from the IMF and the EU totally worth $6 bln this year.

"Hopefully, this year Ukraine will receive four tranches within the IMF credit program," NBU Governor Valeria Gontareva said Thursday. Deputy Governor Dmitry Sologub added that two tranches of macrofinancial assistance are expected from the European Union in 2017. "The government plans to attract two tranches worth around $1.4 bln," he said.

Gontareva said she sees no obstacles to hit the plans to renew lending, particularly, the IMF tranche worth $1 bln expected in early February. "We hope to receive the first tranche from the IMF planned for this year," she said, adding that in 2017 Ukraine plans to receive four tranches within the extended facility program.

In March 2015, the IMF adopted a four-year loan program for Ukraine worth $17.5 billion. It replaced the previous program of 2014, which was not implemented. Under the new arrangement Kiev received an initial $5 bln tranche, and later $1.7 bln and $1 bln. The latest tranche was granted in September 2016.

The European Commission provided Kiev with 600 mln euro in July 2015 within the new macrofinancial assistance program worth 1.8 bln euro. Another tranche worth 1.2 bln euro was expected from the European Commission under the stipulation that Ukraine successfully carries out economic and structural reforms, particularly Kiev expected a 600 mln euro tranche in end-2015 and another 600 mln euro in early 2016, though the funds were not transferred.

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