Cabinet Approves Terms Of Preferential Loan From Canada For CAD 1 Billion

The Cabinet of Ministers approved the conditions for obtaining a preferential loan from Canada for CAD 1 billion.

The Ministry of Finance has said this in a statement, Ukrainian News Agency reports.

The resolution approved the main conditions for the implementation of state external borrowing by attracting a loan for a total amount not exceeding CAD 1 billion.

Credit funds are provided on preferential terms.

The loan repayment term is 10 years.

Fundraising will be carried out in accordance with the loan agreement between Ukraine represented by the Minister of Finance of Ukraine as a borrower, Her Majesty the Queen on behalf of Canada, represented by the Minister of Finance as a creditor and the Export Credit Agency of Canada as an agent.

As Ukrainian News Agency reported, in April, the Ministry of Finance already attracted funds from Canada totaling up to CAD 500 million in the equivalent of U.S. dollars, also on preferential terms, to ensure financing of priority government spending

Canada sent 140 tons of buckwheat seeds to Ukraine.