AVELLUM ADVISES THE MINISTRY OF FINANCE OF UKRAINE ON SOVEREIGN LOANS EXTENDED TO UKRAINE BY FRANCE AND CANADA

AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine in connection with:

• a EUR300 million and a 15-year credit facility from the French Development Agency as lender – to finance the general purposes of the state budget of Ukraine in order to maintain essential social public services; and
• a CAD500 million and a 10-year loan from Canada (represented by the Minister of Finance) as lender with Export Development Canada as administrative agent – to be used in a manner consistent with macroeconomic parameters and policy commitments made by Ukraine under its current IMF Program or subsequent IMF programs.

“These transactions were closed in record time due to seamless collaboration of all involved parties who clearly understood what was at stake. This financial support from international partners makes a vital contribution in maintaining the financial system stability and responding to social and economic consequences of Russia’s invasion of Ukraine”, – commented Glib Bondar, senior partner of AVELLUM.

AVELLUM team was led by senior partner Glib Bondar with support from senior associate Oleg Krainskyi and associates Anastasiia Zhebel, Oleksandra Mohylna, and Yaroslav Pavliuk.