IMF says Ukraine Capacity Development Fund launches operations

By Ovunc Kutlu

ISTANBUL (AA) - The International Monetary Fund (IMF) said Tuesday that Ukraine Capacity Development Fund (UCDF) has launched operations.

UCDF, a trust fund managed and administered by the IMF, will provide resources for the scaling up of technical assistance and training in support of the Ukrainian government’s economic reform agenda.

"The UCDF’s workplan, endorsed today by the Steering Committee, focuses on core areas of the authorities’ economic and financial reform agenda, well aligned with reforms under Ukraine’s Extended Fund Facility-supported program," the IMF said in a statement.

These include fiscal reforms, monetary and financial sector policies, strengthening financial integrity and tackling corruption, and technical assistance on macroeconomic frameworks, it added.

The IMF said the initial workplan amounts to $27.5 million, with expectations that the target of $65 million will be reached.