The International Monetary Fund has approved a third tranche worth $3.3 billion of a stabilization loan for Ukraine, according to RIA Novosti.

The IMF approved the $16.4 billion loan for Ukraine in November 2008.

Ukraine has already received two tranches of $4.5 billion and $2.8 billion as part of a stabilization loan program provided by the IMF to stabilize its economy, which had been seriously hurt by the current economic meltdown.