Ukraine received $773 mln preferential loan from Canada through IMF administered account
The state budget of Ukraine has received a 1 billion Canadian dollars (equivalent to $773 million) soft loan from Canada for 10 years at 1.69% per annum, the Ministry of Finance of Ukraine announced on Friday, June 17, 2022.
“These are the first funds that Ukraine has received through the mechanism of the administered account of the International Monetary Fund,” as stated on the website of the Ministry of Finance of Ukraine.
Minister of Finance of Ukraine Serhii Marchenko thanked the Canadian government and, personally, Deputy Prime Minister — Finance Minister of Canada Chrystia Freeland for “uncompromising support for Ukraine in the fight for freedom,” emphasizing the extremely important timeliness of support.
The funds will be directed to the state budget to finance priority expenditures. In particular, to ensure priority social and humanitarian expenditures, the Ministry of Finance of Ukraine specified.