"The Honorable Harjit S. Sajjan, Minister for International Development and Minister in Charge of Canada's Pacific Economic Development Agency, and The Honorable Mélanie Joly, Minister for Foreign Affairs, announced that Canada had offered a loan of up to $120 million to the Government of Ukraine to support the country's economic sustainability and governance reforms,” the пovernment of Canada reports on its official website.
A grant of about $6 mln is added to 120 mln Canadian dollars (about 95.8 mln USD) to optimize the implementation of the loan. Representatives of Canada and Ukraine are currently discussing the details of the loan. Today the main conditions are:
- Investments are provided under the program of sovereign loans for CAD620 mln from 2018;
- The maximum loan term is 10 years;
- Loan and interest payments must be made once a year. Grace period is possible in case of separately stipulated circumstances;
- The total amount of loans cannot exceed 120 mln.
In 2014 and 2015, Canada has already provided Ukraine with a tranche of CAD400 million for economic rehabilitation and development. The loans ($200 mln for every two years) were fully repaid with interest as scheduled in 2020.