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Ministry of Finance of Ukraine has attracted CAD 400 million of concessional financing from the Government of Canada

Today, on October 17, the State Budget of Ukraine received a tranche from the Government of Canada in the amount of CAD 400 million (almost USD 300 million).

Thus, since the start of the full-scale war, direct budget support from Canada has reached USD 5.4 billion.

The funds are provided on concessional terms: 10-year term, interest rate - 1.5% per annum. The grace period is 4.5 years from the date of receipt of funds.

“Since February 2022, Canada has been Ukraine’s fifth-largest provider of budget support. Thanks to these funds, we have been able to maintain financial stability and meet essential state budget priorities. I am deeply grateful to the Government of Canada for its unwavering support,” said Minister of Finance of Ukraine Sergii Marchenko. 

On October 11, Sergii Marchenko signed the Fourth Additional Agreement with the Government of Canada to attract a loan in the amount of CAD 400 million.