IMF board approves $1.3 bln in emergency funding for Ukraine

The International Monetary Fund's executive board on Friday approved Ukraine's request for $1.3 billion in additional emergency funding to help the country sustain its economy as it battles Russia's invasion, two sources familiar with the decision said.

The funds will come from a new emergency lending program to address food shortages.

 The organization projects the Ukrainian GDP to shrink by 35% in 2022.

In March, the IMF approved providing $1.4 billion in assistance to the Kiev government.