Ukraine receives $773 mln preferential loan from Canada through IMF administered account – Finance Ministry

12:53, 17.06.2022 1 min read

The state budget of Ukraine has received a 1 billion Canadian dollars (equivalent to $773 million) soft loan from Canada for a period of 10 years at 1.69% per annum, the Ministry of Finance announced on Friday.

"These are the first funds that Ukraine has received through the mechanism of the administered account of the International Monetary Fund," the ministry's press release says.

Finance Minister Serhiy Marchenko thanked the Canadian government and personally Deputy Prime Minister - Finance Minister Chrystia Freeland for "uncompromising support for Ukraine in the fight for freedom," emphasizing the extremely important timeliness of support.

The funds will be directed to the state budget to finance priority expenditures, in particular, to ensure priority social and humanitarian expenditures, the Ministry of Finance specified.