Canada Provides $1.5 Billion Concessional Loan to Ukraine

Kiev, March 22 (IANS) – Ukraine has received a concessional loan of 2 billion Canadian dollars ($1.5 billion) from Canada, as announced by the Ukrainian Finance Ministry. The 10-year credit, with an annual interest rate of 1.5 per cent, will support Ukraine’s state budget with a 4.5-year grace period.

The loan is part of the third additional agreement with Canada, building on the main agreement signed in August 2022. This financial assistance adds to the 7 billion Canadian dollars that Ukraine has received from Canada since the beginning of the conflict with Russia in February 2022.

Ukraine’s Finance Ministry stated, “The loan from Canada will provide crucial support for Ukraine’s economy amidst ongoing challenges.” The concessional loan is expected to help strengthen Ukraine’s financial stability and facilitate economic growth in the country.

The financial aid from Canada comes at a crucial time for Ukraine, as the country continues to navigate economic uncertainties and security concerns due to the conflict with Russia. The loan reflects Canada’s commitment to supporting Ukraine’s efforts in overcoming challenges and building a more stable future.