Ukraine receives financial aid tranche from Canada
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The state budget of Ukraine received a tranche from Canada in the amount of 400 million Canadian dollars (almost USD 300 million dollars), according to the Ministry of Finance of Ukraine.
This is the first tranche to Ukraine from Western countries since August, when Ukraine received a record $8.5 billion ($4.6 billion from the European Union and $3.9 billion from the United States).
Thus, since the beginning of 2024, Ukraine has received $24.8 billion in budget support from the EU, the IMF, and Western countries. Kyiv expects the aid to reach $38 billion for the year.
The loan from Canada is provided on favorable terms: 10-year term, interest rate - 1.5% per annum. The grace period is 4.5 years from the date of disbursement.
“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,” says Minister of Finance of Ukraine Serhii Marchenko.
Since the beginning of Russia's full-scale war invasion of Ukraine, direct budget support from Canada has reached $5.4 billion. In 2024, Canada has already provided $1.9 billion in loans.
The Cabinet of Ministers predicts that the state budget deficit will be financed by $36.9 billion in international aid in 2025.
