Azernews.Az

Qabil Ashirov

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The International Monetary Fund (IMF) has reached a staff-level agreement to provide Ukraine with approximately $690 million in additional financial assistance following the completion of the first review of the country’s ongoing lending program, AzerNEWS reports.

According to a statement released by the IMF, Fund officials and Ukrainian authorities successfully concluded the first review of the four-year Extended Fund Facility (EFF) arrangement, which has a total value of $8.1 billion.

The agreement remains subject to approval by the IMF Executive Board. If endorsed, Ukraine will gain access to an additional tranche of nearly $690 million in financing.

The IMF noted that the new disbursement would increase the total amount of funding provided to Ukraine under the program to approximately $2.2 billion.

The Fund also highlighted Ukraine’s progress in meeting the program’s objectives. According to the statement, all quantitative performance criteria and targets established under the arrangement have been achieved.

However, the IMF reported mixed progress on structural reforms. Two structural benchmarks scheduled for completion during the first quarter were implemented with delays, while one benchmark has yet to be fully met.

The Extended Fund Facility is designed to support Ukraine’s economic stability, strengthen public finances, and advance key reforms amid the country’s ongoing economic and security challenges.