Ottawa to provide loan to Kyiv via IMF in coming budget year

09:38, 29.03.2023 1 min read

Canada is going to provide a $1.8 billion loan to Ukraine through the International Monetary Fund (IMF) in budget year 2023, CBC TV channel reported with reference to the country's draft budget.

"Canada will extend a $2.4 billion Canadian dollars ($1.8 billion) loan to Ukraine in the coming budget year. The measure is contained in the latest federal budget, tabled in Parliament on Tuesday by Finance Minister Chrystia Freeland," the report said.

The loan for Ukraine will be distributed through the IMF. It is intended to cover the budget deficit and pay for social services, including medical services.

According to the TV channel, separately, the Canadian federal budget also announced CAD 84 million (almost $62 million) in additional direct humanitarian aid for Ukraine in the coming fiscal year – money which will be used for mental health services, the removal of mines and other measures. The money will come out of the existing budget at Global Affairs Canada.