Shmyhal, IMF European Department's director discuss Fund's role in Ukraine's reconstruction

20:48, 22.05.2023 1 min read

Prime Minister of Ukraine Denys Shmyhal had a conversation with Director of the European Department of the International Monetary Fund (IMF) Alfred Kammer discussing the IMF assistance in Ukraine's European integration, as well as the Fund's role in reconstruction, the government portal said on Monday.

"We are working on the creation of an International Compensation Mechanism so that the seized Russian assets can be used for the restoration of Ukraine. We count on the support of the IMF in this direction, as well as on further assistance in consolidating financial support from partners worldwide," the prime minister said.

The Extended Fund Facility with a total volume of $15.6 billion was approved at the end of March 2023 and is designed for four years. It is part of a large $115 billion support package from the G7 countries over the course of the program.