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Canada to provide Ukraine with $398mln loan

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

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

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Russia launched its military operation in Ukraine on February 24 to support the people’s republics of Donetsk and Luhansk.

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

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