The International Monetary Fund’s (IMF) executive board on Wednesday approved $1.4 billion in emergency financing for Ukraine to help meet urgent spending needs and mitigate the economic impact of Russia’s military invasion.
In a statement, IMF Managing Director, Kristalina Georgieva, said that the Russian military invasion of Ukraine has been responsible for a massive humanitarian and economic crisis.
“Financing needs are large, urgent, and could rise significantly as the war continues,” she said, adding that once the war was over, Ukraine was likely to need additional “large support.”
Source: Jordan News Agency