Canada to assist Ukraine by lending $398 million

Representative image of Canada-Ukraine Loan agreement. Credit: Wallpaper cave

Ottawa/CMEDIA: Amid the Russian military operation $398 million loan agreement has been signed between Ukrainian and Canada, Ukraine’s Finance Ministry reportedly said.

“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 favorable terms. The term of the loan amounts to 10 years,” the ministry said in a statement on its Twitter page on late Wednesday.

On Feb 24 Russia launched its military operation in Ukraine drawing intense criticism from Western countries.

The European Union, Canada, the United States, and its allies like the UK, Australia, and Japan among others strongly condemned the Russian invasion of Ukraine and imposed harsh sanctions on Moscow.   

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