Ukraine has approved the terms of a soft loan from Canada for CAD 1B.

The Cabinet of Ministers has approved the terms of a soft loan from Canada in the amount of CAD 1B, reported the Ministry of Finance. It is noted that the loan will be provided on favorable terms with a term of 10 years. The agreement will be signed by the Minister of Finance of Ukraine as the borrower, the Minister of Finance of Canada as the creditor, and the Canadian Export Credit Agency as the agent. The funds will be utilized by the state to finance priority expenditures, particularly social spending, support for the least protected population, and internally displaced Ukrainians.