The International Monetary Fund approved a $17.5 billion dollar aid program for Ukraine as the country struggles to revive its tumbling economy, which has been seriously affected by a conflict with Russia-backed insurgents in the Donbas.
According to Christine Lagarde, Chief of IMF, the bulk of said loan, amounting to $10 billion, is due to be disbursed in the first year of a four-year program, Ukraine Today reports.
The IMF has been consistent with its support for Ukraine over the years. In 2014, it agreed to provide $17 billion in loans to Kyiv over two years.
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