Ukraine received 500 million dollars from Canada. This money will finance the expenses of the state budget

Anhelina Sheremet

Within the credit agreement with Canada, Ukraine received an additional 500 million Canadian dollars ($367 million). The total amount of the loan is 1.95 billion Canadian dollars ($1.432 billion).

The Ministry of Finance of Ukraine reported this on December 20.

These are the funds of the five-year "Bonds of the sovereignty of Ukraine", which the Canadian government placed to support Ukraine on the eve of the winter period. The loan is provided on preferential terms through the administrative account of the International Monetary Fund.

The funds will be used to finance priority expenditures of the state budget, and they will also contribute to the preservation of Ukraineʼs financial stability.

On June 15, 2022, Ukraine received 1 billion Canadian dollars ($779 million), and on August 18, 2022, the state budget received a loan of 450 million Canadian dollars ($349 million) on preferential terms with a repayment term of up to 10 years and an interest rate of 1.69% per annum.

  • On October 28, Canadian Prime Minister Justin Trudeau announced that Ottawa will issue government bonds to support Ukraine — Ukraine Sovereignty Bonds.