AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine in connection with a CAD 2.4 billion (equivalent to USD1.8 billion) concessional loan from Canada. The funds were provided through the mechanism of the Administrated Account of the International Monetary Fund
The repayment period of the loan is ten years, and the interest rate is 1.5% per annum.
This transaction marks the fifth long-term concessional loan provided to Ukraine by Canada since February 2022. With this additional loan, the total amount of Canada’s financial commitment stands at CAD4.8 billion (or about USD 3.6 billion).
Glib Bondar, senior partner and head of Banking & Finance practice at AVELLUM, commented “We are honoured to assist our long-standing client in securing much-needed support from Canadian partners. These funds are instrumental to finance priority expenditures of the state budget of Ukraine and cope with the economic fallout from the Russian invasion.”
AVELLUM is proud to remain a trusted advisor to the Ministry of Finance of Ukraine since 2015 and is committed to assisting them in future transactions with the same level of dedication and expertise. AVELLUM team was led by senior partner Glib Bondar with significant support from managing associate Oleg Krainskyi and associate Yaroslav Pavliuk.
Posted on April 12, 2023