He International Monetary Fund (IMF) announced on Tuesday that it had reached an agreement with the government Ukrainian watch prepare a relief plan totaling $15,600 million.

The plan would allow it “supporting the gradual economic recovery while creating the conditions for long-term growthin a context of post-conflict reconstruction (with Russia, ndlr) and with a path towards joining the European Union,” the IMF said in a statement. The agreement will be presented to the board of directors “in the coming weeks” of the Final Validation Fund.

“Apart from the appalling human cost, the Russian invasion of Ukraine continues to have a devastating effect on the economy: GDP fell by 30% by 2022, much of the industrial sector was destroyed and poverty skyrocketed,” IMF mission chief Gavin Gray said in the statement.

Vladimir Putin claims that NATO is participating in the conflict in Ukraine by supplying weapons

Despite these obstacles, the Ukrainian government managed to “maintaining financial and macroeconomic stability, mainly thanks to substantial international support and the implementation of sensible policies,” he added.

In a statement, US Treasury Secretary Janet Yellen “welcomed” the fund’s agreement with Ukraine, adding that relative to Russia, the United States “will continue to support the government and people of Ukraine for as long as necessary.”

Since February 24, 2022, when the war started, Ukraine has received more than $20 billion in loans or grants from the World Bank and more than $110 billion from the United States, including military aid.

Ukraine allowed a large part of these resources keep public services running and pay salaries to their officials, and provide care for internally displaced persons.

The IMF expects a partial and gradual economic recovery for Ukraine this year, thanks in particular to the maintenance of vital infrastructure, such as the power grid, which continues to come under fire from Russia.