Canada to provide Ukraine with a soft loan worth $150 million

29 June, 12:27 PM
Justin Trudeau (Photo:REUTERS/Blair Gable/File Photo)

Justin Trudeau (Photo:REUTERS/Blair Gable/File Photo)

Canada will provide Ukraine with a soft loan worth CAD 200 million (about U.S. $150 million) to support immediate government spending needs, according to a statement posted on the website of Canadian Prime Minister Justin Trudeau on June 28.

"Canada will provide $200 million through the IMF Administered Account, providing more flexibility to Ukraine on the use of these funds, and reducing the administrative burden on Ukrainian officials," says the statement. 

Canada is also investing about $115 million in several peace and security projects.

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Some $73 million will be spent on humanitarian aid for Ukraine and neighboring countries, Trudeau announced at the “Stand up for Ukraine” pledging event on April 9. These funds will be allocated to experienced humanitarian partners to provide emergency medical and protective services and meet basic needs such as shelter, water, sanitation and food.

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