Washington, 1 April 2023 (dpa/MIA) - The International Monetary Fund (IMF) announced on Friday its first loan to a country at war, saying it is providing a new financing package worth billions of dollars to Ukraine.

The loan is part of an international aid package totalling $115 billion. The east European country has been defending itself against an invasion by its Russian neighbour since February 2022.

The IMF recently changed its rules to allow loan programmes for countries facing "exceptionally high uncertainty."

The four-year loan programme approved by the executive board on Friday will give the country access to $15.6 billion, the IMF said.

The executive board decision calls for the immediate disbursement of about $2.7 billion, with the initial focus on a sound budget and the mobilization of revenues.

Subsequently, "ambitious structural reforms" will be tackled in Ukraine, the IMF said.

"Russia's invasion of Ukraine continues to have a devastating economic and social impact," it added.

Nevertheless the authorities have managed to maintain overall financial stability - thanks to smart policies and significant external support.

The programme is intended to anchor "policies that maintain fiscal, external, price and financial stability" and support economic recovery, the IMF said.

At the same time, governance should be improved to enable long-term growth after the end of the war, it said.

Kiev had already agreed on the loan programme with international donors about two weeks ago. However, that agreement still had to be approved by the executive board.

Ukraine had sought the billion-dollar aid programme and months of negotiations preceded it.