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Ukraine receives first tranche of IMF loan

Xinhua, March 13, 2015 Adjust font size:

Ukraine has started receiving funds from the first tranche of a new loan of 17.5 billion U.S. dollars from the International Monetary Fund (IMF), the country's Finance Ministry said Friday.

"The funds are being received on the accounts of the National Bank of Ukraine (NBU) and the government," said the press service of the ministry.

The first tranche of 5 billion dollars will be transferred to Kiev by the end of the day, among which the government will utilize 2.7 billion dollars to support the budget and allocate the remaining 2.3 billion dollars to the NBU to boost the country's foreign exchange reserves, according to the press service.

On Wednesday, the IMF executive board approved a four-year extended fund facility for Ukraine to help the troubled country with its reforms and economy. Endi