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Canada announces $350mn in loan for Ukraine to meet its social, humanitarian expenditures

As the ravaging war continues to batter the already war-ravaged Ukraine for more than five months, it has now decided to lent 450 million CAD ($352 million) from Canada in order to meet its social and humanitarian expenditures. According to a statement released by the Ukrainian Finance Ministry on Friday, this came after the Cabinet Ministers made changes to the basic conditions for state external borrowing earlier this year  The Ministry of Finance developed the draft resolution for the possibility of increasing the amount of the preferential loan by 0.45 billion Canadian dollars (nearly $0.35 billion) within the framework of the credit agreement between Kyiv and Ottawa. The ministry categorically mentioned that the funds will be directed to the state budget to finance priority expenses, particularly to ensure priority social and humanitarian payments. payments.

As per the…

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