The IMF has announced the official opening of a Ukraine Capacity Development Fund (UCDF) to support economic and financial reforms in Ukraine over the next five years.
The fund’s goal is to attract $65M from donor countries. The fund’s initial resources amount to $16.5M. Latvia, Lithuania, the Netherlands, Slovakia, and Japan provided these funds.
It is noted that the fund’s initial work plan envisages the allocation of $27.5M to support the main directions for Ukraine’s reform program. Areas to be supported include fiscal reforms (including revenue mobilization, public financial management, and expenditure policy), monetary policy, financial sector policy, anti-corruption policy, and data collection and distribution.
The funds will help cover the costs of IMF operations to develop Ukraine’s potential from 2024 to 2028.