Canada to provide Ukraine with $398 million loan amid Russian military operation

The Ukrainian Finance Ministry said it had signed a $398 million loan agreement with the Canadian government amid the Russian military operation.

“Ukrainian Finance Minister Serhiy Marchenko has signed a loan agreement with the Canadian government on providing Ukraine with a loan of 500 million Canadian dollars [$398 million] on favourable terms. The term of the loan amounts to 10 years,” the ministry said in a statement on its Twitter page on late Wednesday.

The Western countries have strongly condemned the Russian military operation in Ukraine calling it an invasion and imposed harsh sanctions on Moscow.