Ukraine receives $367M from Canada under loan agreement

By Burc Eruygur

ISTANBUL (AA) - The Ukrainian government announced on Tuesday that it received 500 million Canadian dollars ($367 million) from Canada under a loan agreement between the two countries.

“These are the funds of the five-year Ukraine Sovereignty Bond, which the Government of Canada launched to support Ukraine this difficult winter. The loan is provided on concessional terms through the Administrated Account of the International Monetary Fund (IMF),” said a statement on the Ukrainian government’s online portal.

Ukrainian Finance Minister Serhii Marchenko said that Canada “once again demonstrated its leadership in supporting Ukraine.”

“The funds will be directed to financing priority expenditures of the state budget, and will also contribute to the preservation of Ukraine’s financial stability,” Marchenko added.

In a message on Twitter, Ukrainian Prime Minister Denys Shmyhal thanked his Canadian counterpart Justin Trudeau, Finance Minister Chrystia Freeland and the IMF for its “comprehensive” support to Kyiv.