Ukraine receives first tranche of Western financial aid since August

The state budget of Ukraine received a tranche from Canada in the amount of 400 million Canadian dollars (almost 300 million dollars).

This was reported by RBC-Ukraine with reference to the press service of the Ministry of Finance.

This is the first tranche to Ukraine from Western countries since August, when Ukraine received a record $8.5 billion ($4.6 billion from the European Union and $3.9 billion from the United States).

Thus, since the beginning of 2024, Ukraine has received $24.8 billion in budget support from the EU, the IMF, and Western countries. Kyiv expects the aid to reach $38 billion for the year.

The loan from Canada is provided on favorable terms: 10-year term, interest rate - 1.5% per annum. The grace period is 4.5 years from the date of disbursement.

“Canada has been one of the five largest providers of budget support to Ukraine since February 2022. Thanks to the funds attracted, we are able to continue to maintain financial stability in Ukraine and ensure priority expenditures of the state budget,” said Minister of Finance of Ukraine Sergii Marchenko.

Since the beginning of the full-scale war, direct budget support from Canada has reached $5.4 billion. In 2024, Canada has already provided $1.9 billion in loans.

Author - Olena Madiak, 17/10/2024