A visiting mission from the International Monetary Fund (IMF) announced Thursday that it has reached a preliminary agreement with Ukrainian authorities on allocation of a new loan of 17.5 billion U.S. dollars for Kiev.

"The mission has reached a staff-level agreement with the authorities on an economic reform program, which can be supported by a four-year Extended Fund Facility, in the amount of SDR 12.35 billion (about 17.5 billion dollars)," Nikolay Gueorguiev, the IMF mission chief for Ukraine, said in a statement.

To come into force, the new deal should be approved by the IMF's board within the next four weeks, Gueorguiev said.

As part of the agreement, Kiev should implement a series of deep structural reforms in the energy, financial, banking and administrative sectors to provide the basis for a strong and sustainable economic growth, he added.

The IMF's new contribution will replace a two-year financial aid program totaling 17 billion dollars for Ukraine, which was approved in April 2014.

Since then, the east European country has received two tranches of aid worth 4.58 billion dollars. Endi

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