Ukraine receives concessional loan worth CAD 450M from Canada

Ukraine receives concessional loan worth CAD 450M from Canada

Ukraine’s state budget has received a concessional loan worth CAD 450 million from Canada. The funds were transferred through the Administered Account of the International Monetary Fund (IMF).

The relevant statement was made by the Ukrainian Finance Ministry, an Ukrinform correspondent reports.

“I am grateful to the Government of Canada and personally to Deputy Prime Minister, Minister of Finance of Canada Chrystia Freeland for the uncompromising support of Ukraine during this extremely difficult historical period. The received funds will allow us to support Ukrainians and accelerate victory over the aggressor,” Ukrainian Finance Minister Sergii Marchenko noted.

The total amount of loan funds provided by Canada is CAD 1.45 billion (equivalent to USD 1.2 billion). The repayment period is 10 years, and the annual interest rate is 1.69%.

A reminder that, on June 17, 2022, Ukraine received a loan worth CAD 1 billion on concessional terms. These were the first funds to have been transferred to Ukraine through the IMF Administered Account.


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