The third tranche from the IMF equal to 1 billion US dollars was transferred to the account of the National Bank of Ukraine on September 16, 2016.
The tranche is a part of the IMF extended funding facility for Ukraine totaling 17.5 billion US dollars, it was approved at the meeting of the IMF Executive Board on September 14.
Having received this tranche, Ukraine will be able to receive credit warrants from the USA amounting 1 billion US dollars, a loan from the EU equal to 600 million Euros and other support from international partners.
IMF loans are aimed to help Ukraine recover its economy and create conditions enabling its self-propelled development after the completion of the funding program.
Key facts about the loan:
∙ the interest rate is 3% p.a.;
∙ the fee for the funds reservation is 0.15% (to be paid proportionally to the received amount);
∙ the service fee – 0.5% of the tranche sum.
Every part of the loan is re-paid as follows:
∙ grace period - 3 years (interest rate is to be paid quarterly);
∙ the loan itself shall be re-paid in equal parts on a quarterly basis for two years.