Avellum has advised the Ministry of Finance of Ukraine on a CAD 2.4 billion concessional loan from Canada. Sayenko Kharenko advised the Government of Canada on Ukrainian law-related matters.
"The funds were provided through the mechanism of the Administrated Account of the International Monetary Fund," Avellum informed. "The repayment period of the loan is ten years, and the interest rate is 1.5% per annum."
"The financing brings Canada’s total economic, military, humanitarian, and other support to Ukraine to more than CAD 8 billion since February 2022," Sayenko Kharenko reported.
"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 Senior Partner Glib Bondar commented.
In 2022, Avellum also advised the Ministry of Finance of Ukraine on a CAD 500 million 10-year loan from Canada (as reported by CEE Legal Matters on May 13, 2022).
The Avellum team was led by Bondar and included Managing Associate Oleg Krainskyi and Associate Yaroslav Pavliuk.
The Sayenko Kharenko team was led by Partner Igor Lozenko and included Associates Oles Trachuk and Oleksandr Motin.