Ukraine to receive Canada's CAD400-mln soft loan

MOSCOW. Oct 11 (Interfax) - The Canadian government will provide Ukraine with an additional CAD400-million ($290.6 million at the current exchange rate) loan through the administered account of the International Monetary Fund (IMF) in the near future.

Finance Minister Sergei Marchenko signed the corresponding agreement on Friday, Ukrainian media reported, citing the Finance Ministry.

The funding under the agreement will be channeled to ensure priority expenditures of the Ukrainian state budget, it said.

"Canada is one of the leaders in supporting Ukraine and a strategic partner [...]. Direct budgetary support has reached more than $5 billion since February 2022," Marchenko said.

The additional loan is provided for 10 years, the interest rate is 1.5% per annum, the ministry said. The grace period is four and a half years from the date of receipt of funds.

The funds are expected to be disbursed to the overall fund of the state budget in the near future.