Ukraine receives CAD 50 mln loan from Canada through IMF

11:42, 18.08.2022 1 min read

A CAD 450 million (equivalent to $350 million) concessional loan from Canada has been transferred to the state budget of Ukraine.

According to a press release from the Ministry of Finance on Thursday, the funds were provided through the mechanism of the Administrated Account of the International Monetary Fund (IMF). The amount of the loan from Canada is CAD 1.45 billion (equivalent – $1.2 billion). The repayment period is 10 years, the interest rate is 1.69% per annum.

Minister of Finance of Ukraine Serhiy Marchenko thanked the Government of Canada and Deputy Prime Minister, Minister of Finance of Canada Chrystia Freeland for their uncompromising support fo Ukraine.

Ambassador of Ukraine to Canada Yulia Kovaliv said that the allocated funds will be used to purchase natural gas to support the heating season.

According to her, the total amount of financial assistance to Ukraine from Canada since the beginning of the war has reached CAD 1.95 billion.