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29 August 2022

Sayenko Kharenko advises on the CAD 450 million loan to Ukraine by Canada

Sayenko Kharenko has acted as Ukrainian legal counsel to the Government of Canada in connection with the CAD 450 million loan to Ukraine. The loan with 10-year maturity is intended to support the purchase of necessary heating fuel by Ukraine before coming winter.

The financing was provided through International Monetary Fund’s (IMF) Multi-Donor Administered Account for Ukraine established earlier in 2022 with Canada playing a leading role in that effort. Following the disbursement, the aggregate amount of Canada’s invaluable support to Ukraine in 2022 has reached CAD 1.95 billion, which includes:

  • the most recent CAD 450 million loan disbursed through the IMF Administered Account;
  • CAD 1 billion loan disbursed through the IMF Administered Account in June 2022; and
  • CAD 500 million bilateral sovereign loan disbursed through April and May 2022.

Sayenko Kharenko is proud to have been involved as Ukrainian legal counsel to the Government of Canada in connection with the mentioned loans that are a testament to Canada’s monumental support of Ukraine.

Sayenko Kharenko’s team was led by partner Igor Lozenko and included associates Oles Trachuk, Vladyslava Mitsai and Oleksandr Motin.

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