Ukraine will receive $300 million from Canada for state budget expenditures

Minister of Finance Serhiy Marchenko signed an agreement with the Canadian government on an additional loan of $300 million. Priority expenses of the state budget of Ukraine will be financed with this money.

This was reported by the press service of the Ministry of Finance.

The money will be raised through the Administrative Account of the International Monetary Fund.

"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 budget support from February 2022 will reach more than $5 billion," the minister emphasized.

The new loan is granted for ten years, the interest rate is 1.5% per annum. The grace period is 4.5 years from the date when the money reaches the general fund of the state budget.

• Since the beginning of the full-scale invasion, Canada has been providing Ukraine with humanitarian, financial, military and political assistance. Canada also supports sanctions against Russia.