The Cabinet of Ministers approved a decree prepared by the Ministry of Finance on an additional 450 million Canadian dollars of a loan from Canada, increasing the amount of a preferential loan to 1.45 billion Canadian dollars (1.131 billion US dollars). This was reported by the press service of the government on Friday, July 29.

It is noted that the funds will be directed to the state budget to finance priority expenditures, in particular, to ensure priority social and humanitarian payments..

Recall that on June 17, the State Budget of Ukraine received 1 billion. Canadian dollars (eq.. 0.773 billion. US dollars) loan on preferential terms. These are the first funds that Ukraine received through the mechanism of the administrative account of the International Monetary Fund.

Loan maturity - 10 years, interest rate - 1.

69% per annum. For additional tranches of the loan, the specified conditions are preserved.

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Recall that in April 2022, the International Monetary Fund decided to create an administrative account for crediting funds in the form of a share of Special Drawing Rights from donor countries in favor of Ukraine. All funds raised from this account should be used to maintain the financial stability of Ukraine in the form of grants or loans.