Ukraine will receive an additional loan of $300 million from Canada
On October 11, Ukraine's Finance Minister Sergiy Marchenko signed an agreement with the Canadian government on a loan of 400 million Canadian dollars (almost 300 million US dollars). The funds will be used to finance priority expenditures of the Ukrainian state budget through the IMF's Administrative Account.
This was reported by RBC-Ukraine with reference to the press service of the Ministry of Finance of Ukraine.
Marchenko emphasized Canada's significant role in supporting Ukraine since the beginning of the full-scale invasion, noting that the amount of direct budget support since February 2022 has exceeded $5 billion.
The Minister expressed his gratitude to the government and citizens of Canada for their solidarity and assistance in stabilizing Ukraine's financial system.
The new loan is for 10 years with an interest rate of 1.5% per annum and a grace period of 4.5 years. The funds are expected to be transferred to the general fund of the state budget in the near future.
Author - Dmitriy Levchenko, 12/10/2024
