Canada was the first to give Ukraine a loan on favorable terms through the IMF administrative account mechanism.
Ukraine received one billion Canadian dollars (773 million US dollars) of a loan from Canada, according to the Ministry of Finance website on Friday, June 17th.
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The repayment period of the loan is 10 years, the interest rate is 1.69% per annum.
These are the first funds received by Ukraine through the administrative account mechanism of the International Monetary Fund.
Funds will be directed to the state budget to fund priority spending, particularly to ensure priority social and humanitarian spending.
Recall that the IMF opened a special account for Ukraine at the end of April. It is designed to transfer donor resources in the form of grants and loans to help Ukraine. Through this, Ukraine should receive five billion dollars a month.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.