Ukraine received $1.8 bln loan from Canada

MOSCOW. March 31 (Interfax) - Ukraine on Friday received a $1.8 billion loan granted by Canada on concessionary terms, the Ukrainian media reported, citing the finance ministry.

"Today we received CAN$2.4 billion [US$1.8 billion] to be forwarded primarily to finance the first-priority spending of the national budget," Finance Minister Sergei Marchenko was quoted in official information as saying.

The loan is for ten years at 1.5% per annum, he said. The money was provided through the International Monetary Fund mechanism of Administered Account.

It was reported that Ukraine needs $42.5 billion in external funding in 2023.

Since the beginning of this year to March 29, Ukraine received $9.17 billion of such funding from international partners, including $3.5 billion in grants from the United States, $4.85 billion in loans from the European Union, and $495 million in loans and guarantees from Britain, the ministry said. Last year Ukraine received $32.14 billion in international funding.