Ministry of Finance: Ukraine to receive CAD 400 million in concessional financing from the Government of Canada

Today, on 11 October, Minister of Finance of Ukraine Sergii Marchenko has signed the Fourth Additional Agreement with the Government of Canada for an additional loan of CAD 400 million (almost USD 300 million). The funds will be raised through the IMF’s Administered Account.

The financing under the Agreement will be used to support priority expenditures of the State Budget of Ukraine.

“Canada is one of the leaders in supporting Ukraine and a strategic partner that has provided significant assistance since the first days of the full-scale invasion. Direct budgetary support since February 2022 has reached more than USD 5 billion. I am grateful to the Government and citizens of Canada for their solidarity with Ukraine and their crucial contribution to the stability of Ukraine’s financial system,” said Sergii Marchenko.

The additional loan is provided for a period of 10 years with an interest rate of 1.5% per annum. The grace period is 4.5 years from the date of disbursement.

The funds are expected to be transferred to the general fund of the State Budget in the near future.