Canada has decided to provide a loan of CAD 500 million to Ukraine.
The Ministry of Finance has said this in a statement, Ukrainian News Agency reports.
Minister of Finance of Ukraine Serhii Marchenko signed a loan agreement with the Government of Canada to provide Ukraine with CAD 500 million on favorable terms.
The funds will be provided on preferential terms.
The loan repayment term is 10 years.
The Minister of Finance of Ukraine noted that such a decision is not only a timely contribution to supporting the financial stability of Ukraine, but also bringing Ukraine closer to victory over the aggressor.
The funds will be used to secure funding for government priority spending.
As Ukrainian News Agency earlier reported, the Ministry of Finance agreed with the KfW (Kreditanstalt fuer Wiederaufbau, Reconstruction Credit Institute; Germany) to raise EUR 150 million to support the "Affordable loans 5-7-9%" program.
Finance Minister Serhii Marchenko said that 30% of Ukrainian companies have ceased operations, and 45% are working, reducing their capacity.
Marchenko also said that in March government spending exceeded revenue by USD 2.7 billion, while in April and May the difference is expected to be USD 5-7 billion.
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