The State Budget of Ukraine received CAD 1 billion (equivalent to USD 773 million) of a loan on favorable terms from Canada.
The Ministry of Finance has said this in a statement, Ukrainian News Agency reports.
Funds were raised in accordance with the loan agreement between Ukraine and Canada.
These are the first funds that Ukraine received through the mechanism of the administrative account of the International Monetary Fund.
The loan repayment period is 10 years, the interest rate is 1.69% per annum.
The funds will be directed to the state budget to finance priority spending, in particular to ensure priority social and humanitarian spending.
As Ukrainian News Agency earlier reported, in April 2022, the International Monetary Fund decided to create an administrative account for crediting funds in the form of a part of the Special Drawing Rights (SDR) from donor countries in favor of Ukraine.
All funds raised using this account should be used to maintain the financial stability of Ukraine in the form of grants or loans.
The Ministry of Finance fulfilled the plan for borrowing to the state budget by 170.5% and attracted UAH 376.6 billion in January-May.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.