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IMF reaches agreement with Ukraine to allocate $880 mln to Kiev

The tranche will be sent to Kiev through the expanded lending mechanism approved in March

WASHINGTON, February 23. /TASS/. The International Monetary Fund (IMF) at the working level has reached an agreement with Kiev on the allocation of the next tranche to Ukraine in the amount of $880 mln, Reuters reported citing a source.

The tranche will be sent to Kiev through the expanded lending mechanism approved in March. The allocation of funds must be approved by the IMF management and the organization's board of executive directors. They are expected to consider this issue in the second half of March.

The IMF has not yet responded to TASS's request to confirm this information.

The previous $900 mln tranche was approved by the board of executive directors in December. The Fund previously approved a four-year program for Ukraine with funding in the amount of $15.6 bln under this mechanism. The first tranche of $2.7 bln entered the Ukrainian state budget on April 3.

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