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IMF says working on bilateral donor trust fund for Ukraine – Metro US

IMF says working on bilateral donor trust fund for Ukraine

FILE PHOTO: The International Monetary Fund logo is seen inside
FILE PHOTO: The International Monetary Fund logo is seen inside its headquarters at the end of the IMF/World Bank annual meetings in Washington

WASHINGTON (Reuters) – The International Monetary Fund is working on a new Ukraine trust fund instrument to allow bilateral donor countries to contribute resources to the war-torn country as it battles a Russian invasion, an IMF official said on Monday.

A $1.4 billion emergency loan for Ukraine approved by the IMF last week is currently the maximum that Ukraine can borrow directly from the Fund current rules for the IMF’s Rapid Financing Instrument, the official said.

Any additional near-term IMF-administered funding for Ukraine will come from bilateral donors, the official said, adding that the IMF’s emergency loan is having a “catalytic” effect in encouraging donations.

(Reporting by David Lawder and Andrea Shalal)

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