The five-year loan tenure
On September 17, 2014, the Ministry of Finance of Ukraine concluded the loan agreement between Ukraine and the Canadian export agency as the agent of Her Majesty Queen, acting on behalf of Canada, in the amount of 200 million Canadian dollars, with the annual rate of 2.1%, to be repaid over five years, the press-office of the Ukraine’s Ministry of Finance reports.
The government has borrowed the money in pursuance of the resolution passed by the Cabinet of Ministers of Ukraine on September 15, No.443 On External Borrowings by the Government, with the view of covering a budget shortfall to the extent set out in the Law of Ukraine On Government Budget of Ukraine for 2014, without exceeding the debt limit at the end of the budget period.
The money borrowed has been transferred to the government account on September 30, 2014.
