Ukraine to receive almost $300 million in soft loans from Canada
Kyiv • UNN
The Ministry of Finance of Ukraine has signed an agreement with Canada for a CAD 400 million concessional loan. The funds will be used for priority state budget expenditures, and the loan term is 10 years at 1.5% per annum.
Ukraine will receive 400 million Canadian dollars (almost 300 million US dollars) in concessional financing from the Canadian government, the Ministry of Finance reported, UNN writes.
Details
"Today, on October 11, Ukrainian Finance Minister Sergii Marchenko signed the fourth additional agreement with the Government of Canada on an additional loan of 400 million Canadian dollars (almost 300 million US dollars). The funds will be raised through the IMF's Administrative Account," the statement said.
According to the Ministry of Finance, the financing under the agreement "will be used to cover the priority expenditures of the State Budget of Ukraine".
The additional loan, as indicated, is granted for a term of 10 years and bears interest at 1.5% per annum. The grace period is 4.5 years from the date of disbursement.
"The funds are expected to be transferred to the general fund of the state budget in the near future," the Ministry of Finance said.
AddendumAddendum
According to the Ministry of Finance, Canada's direct budget support has reached more than USD 5 billion since February 2022.
