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Ukraine Received CAD 1 Billion from Canada

The State Budget of Ukraine received CAD 1 billion (USD 773 million) loan on concessional terms from Canada.

The 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 administrated account of the International Monetary Fund. The loan maturity is 10 years, the interest rate is 1.69% per annum.

"I am grateful to the Government of Canada and personally to the Deputy Prime Minister, Minister of Finance of Canada Chrystia Freeland for the unwavering support for Ukraine in the fight for our freedom. This decision once again demonstrates Canada's leadership in supporting the Ukrainian people and crucial timeliness to help Ukraine", - said Minister of Finance Sergii Marchenko.

The funds will be directed to the state budget to finance priority expenditures, in particular to ensure priority social and humanitarian expenditures.

In April 2022, the International Monetary Fund decided to create an administrated account in the form of a share of Special Drawing Rights (SDRs) from donor countries in favor of Ukraine. All funds raised through this account should be used to support Ukraine's financial stability in the form of grants or loans.