Ukraine receives $1.8 billion soft loan from Canada

The State Budget of Ukraine received CAD 2.4 billion (equivalent to USD 1.8 billion) from Canada of a loan on preferential terms under the second additional agreement.

This is stated in the message of the Ministry of Finance, Ukrainian News Agency reports.

The funds were provided through the administrative account mechanism of the International Monetary Fund.

Additional loan is provided for 10 years, the interest rate is 1.5 per cent per annum.

On June 3, 2022, a loan agreement was signed between Ukraine and Canada to provide Ukraine with a loan on preferential terms with the first additional agreement of December 13, 2022, according to which the state budget of Ukraine received funds in the amount of CAD 1.95 billion.

The total loan amount will be CAD 4.35 billion.

As Ukrainian News Agency earlier reported, on March 29, grant funds in the amount of USD 1,253 million were received in the state budget of Ukraine.