On 11 October, Ukrainian Finance Minister Sergii Marchenko signed the fourth additional agreement with the Government of Canada to provide Ukraine with an additional loan of CAD 400 million (approximately USD 300 million). This was reported by the Ministry of Finance of Ukraine.
The funds will be raised through the Administrative Account of the International Monetary Fund (IMF) and will be used to finance the priority expenditures of the State Budget of Ukraine.
Sergii Marchenko stressed that Canada is one of Ukraine’s key partners, providing significant support since the first days of Russia’s full-scale invasion. Direct budgetary assistance from Canada since February 2022 exceeds USD 5 billion.
The new loan is for 10 years with an interest rate of 1.5% per annum and a grace period of 4.5 years from the date of disbursement. The funding is expected to be transferred to the general fund of the State Budget in the near future.
In addition, Canada has pledged to transfer €137.2 million to the European Bank for Reconstruction and Development (EBRD) over five years to support Ukraine’s reconstruction.
As a reminder, in March 2024, Ukraine received CAD 2 billion (equivalent to USD 1.5 billion) from Canada as part of direct budgetary assistance.
In addition, Canadian Minister of National Defence Bill Blair, who took part in the 19th meeting of the Ramstein Contact Group on Ukraine’s Defence, announced a new military aid package worth USD 60 million.
