IMF board approves $1 billion loan disbursement to Ukraine

Ukraine's President Petro Poroshenko addresses lawmakers during the opening of a new Ukrainian parliament session in Kiev, Ukraine, September 6, 2016. REUTERS/Gleb Garanich

WASHINGTON (Reuters) - The International Monetary Fund said its board on Wednesday approved a long-awaited loan disbursement to Ukraine of about $1 billion (754.15 million pounds) after a review of the country's bailout programme.

The IMF has agreed to pump $17.5 billion into Ukraine's economy in a four-year bailout, releasing the funds in instalments subject to the government making progress on economic and anti-corruption reforms.