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Avellum and Sayenko Kharenko Advise on Ukraine's Ministry of Finance on CAD 2 Billion Sovereign Loan from Canada

Avellum and Sayenko Kharenko Advise on Ukraine's Ministry of Finance on CAD 2 Billion Sovereign Loan from Canada

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Avellum has advised Ukraine's Ministry of Finance on a CAD 2 billion ten-year concessional loan from Canada. Sayenko Kharenko advised the Government of Canada.

The funds were provided through the Administrated Account of the International Monetary Fund mechanism and will be directed towards Ukraine’s priority social and economic needs. The loan brings Canada’s total direct loan assistance to the Ukrainian budget to CAD 6.85 billion since February 2022.

"Canada remains a trusted partner of Ukraine and this transaction was made possible due to the smooth and efficient cooperation with the Canadian side," Senior Partner Glib Bondar commented. "This financing continues a series of similar transactions successfully accomplished in 2022 and 2023. We appreciate the vital support from Ukraine’s international partners in North America and Europe, which is key to stabilizing Ukraine’s macroeconomic situation and maintaining the financial system's stability during these challenging war years."

Avellum and Sayenko Kharenko also advised on a CAD 2.4 billion concessional loan from Canada a year ago (as reported by CEE Legal Matters on May 12, 2023).

Bondar led the Avellum team which included Associates Yaroslav Pavliuk, Andrii Kroshko, and Olha Harhola.

Sayenko Kharenko’s team included Partner Igor Lozenko and Senior Associate Oles Trachuk.

Avellum at a Glance

AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com