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The International Monetary Fund announced that its governing board has approved a four-year credit program for Ukraine in the amount of 15.6 billion dollars, BTA reported, referring to Reuters.

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The funds are part of a larger $115 billion international aid package designed to help the government in Kiev meet its most urgent costs in the face of the Russian invasion.

The decision clears the way for the immediate granting of a first tranche of about 2.7 billion dollars to Ukraine, the IMF specified.

The loan package approved today is the first-ever large-scale program of financial assistance to a country involved in a full-scale military conflict in the history of the fund.

The previous IMF program for Ukraine expired last year.

Russian invasion of Ukraine