Ukraine receives $1.8 bln loan from Canada
The State Budget of Ukraine received a concessional loan of $1.8 billion from Canada.
The funds were provided through the administered account for the benefit of Ukraine established by the International Monetary Fund (IMF), Ukraine Ministry of Finance reports.
The funds were received in accordance with the credit agreement between Ukraine and Canada.
The loan's repayment period is 10 years, and the interest rate is 1.5% per annum.
According to the head of the ministry Serhiy Marchenko, the money will primarily be directed to financing priority expenditures of the state budget.
"These funds will allow us to support the citizens of Ukraine in war conditions and bring our victory over the russian [sic] aggressor closer," the minister said.
In 2022, Canada allocated more than $5 billion in direct financial, military, humanitarian, and other aid to Ukraine.
The military aid includes:
- more than 200 Senator armored vehicles,
- NASAMS air defense systems and missiles,
- 39 infantry fighting vehicles,
- anti-tank weaponry,
- assault rifles,
- M777 howitzers and missiles,
- long-range UAVs and others.
Canadian Armed Forces personnel were also sent to Great Britain and Poland to assist in the training of Armed Forces personnel within the framework of the UNIFIER program. Since 2015, under this program, Canada has trained more than 35,000 employees of Ukraine's security forces in combat tactics and advanced military skills.
