The executive board of the International Monetary Fund approved the release of $880 million in budget support to Ukraine following the third review of the international lender's $15.6 billion loan program for the country.
The board's approval of the disbursement, which had been recommended at the IMF staff level a month ago, releases the first tranche of an expected $5.3 billion in aid from the organization for Ukraine this year.
The decision comes as debate drags on in the US Congress over a proposed $61 billion aid package for Ukraine, but days after the European Union announced it will transfer €4.5 billion in budget support for the country under a four-year, €50 billion European aid plan.
