Ukraine has received a preferential loan from Canada worth 367 million dollars
Ukraine’s Finance Ministry said the government has received a CAD 500 million (USD 367 million) concessional loan from Canada.
Canada has been regularly supporting Ukraine with humanitarian and defence assistance since February. Earlier, during the G20 summit, Canadian Prime Minister Justin Trudeau announced an additional package of military aid worth 500 million Canadian dollars. The total amount of aid since February has already exceeded 3.4 billion Canadian dollars, according to the Canadian government.
“On December nineteenth, Ukraine received an additional CAD 500 million (equivalent to USD 367 million) from Canada as part of a loan agreement between Ukraine and Canada. The total amount of the loan is 1.95 billion Canadian dollars (equivalent to USD 1.432 billion),” the Finance Ministry said in a statement on its website.
The ministry noted that these are funds from the five-year bonds, which the Canadian government placed to support Ukraine on the eve of the difficult winter period. The loan is provided on preferential terms through the administrative account of the International Monetary Fund (IMF).
According to Finance Minister Serhiy Marchenko, the money will be used to finance priority state budget expenditures and help preserve Ukraine’s financial stability.
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