The Executive Board of the International Monetary Fund (IMF) has approved a four-year financial package for Ukraine in the amount of $15,6 billion as part of an international support package totaling $115 billion in the second year of the Russian invasion, the IMF said.

The decision is expected to mobilize major concessional financing from Ukraine's international donors and partners to help address Ukraine's balance of payments problem, achieve medium-term external sustainability and restore debt sustainability, the statement said.

Ukrainian President Volodymyr Zelensky welcomed the IMF's decision on Twitter.

It is a great help in our fight against Russian aggression. Together we will support the Ukrainian economy. We are heading for victory, he wrote.

The $115 billion financial package includes an IMF loan, $80 billion in aid and loans from other countries and debt forgiveness of up to $20 billion.