IMF Clears $1 Billion Ukraine Loan Tranche After Year Delay
- Move set to unlock additional aid from U.S., European Union
- Ukraine targeting another $1.3 billion from fund by year-end
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The International Monetary Fund approved a $1 billion aid tranche for Ukraine, resuming disbursements from the former Soviet republic’s $17.5 billion bailout after a yearlong delay and paving the way for further financial assistance from the U.S. and the European Union.
The Washington-based lender’s executive board cleared the transfer at a meeting Wednesday, having decreased the amount from an originally planned $1.7 billion because some conditions weren’t met. The move unlocks international assistance, including a $1 billion U.S. loan guarantee and 600 million euros ($674 million) from the EU.