Ukrainian govt approves loans of up to $100 mln from Korean bank, up to CAD 400 million from Canada

MOSCOW. Sept 27 (Interfax) - The government has given its approval for Ukraine to raise a loan of up to $100 million from the Export-Import Bank of Korea and a loan of up CAD 400 million from Canada, Ukrainian media said.

The corresponding decision was adopted at the government's meeting on Thursday, government representative to the Verkhovna Rada Taras Melnichuk said on his Telegram channel.

Specifically, the government approved the main terms for Ukraine's foreign loans, including a loan from the Export-Import Bank of Korea. The total amount of Ukraine's borrowing from the South Korean bank may not exceed $100 million.

The main terms for borrowing from Canada were also approved. They enable Kiev to raise an additional loan of no more than CAD 400 million from Canada in 2024 to finance the state budget, the report said.