The Executive Board of the International Monetary Fund (IMF) on Friday approved the disbursement of $1.3 billion to Ukraine, the organization said in a statement.
The funds will be provided “under the food shock window of the Rapid Financing Instrument (RFI) to help meet Ukraine’s urgent balance of payments needs.”
The organization projects the Ukrainian GDP to shrink by 35% in 2022.
In March, the IMF approved providing $1.4 billion in assistance to the Kiev government.
