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RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of April 9, 2022 No. 416

About implementation of the state external borrowings in 2022 by attraction of the credit from Her Majesty Korolevy on behalf of Canada provided by the Minister of Finance

For the purpose of accomplishment of the Law of Ukraine "About the Government budget of Ukraine for 2022" in the conditions of martial law imposed by the Presidential decree of Ukraine of February 24, 2022 No. 64 "About introduction of warlike situation in Ukraine" the Cabinet of Ministers of Ukraine decides:

1. Perform the state external borrowings in 2022 by attraction of the credit from Her Majesty Korolevy on behalf of Canada provided by the Minister of Finance.

2. Approve the Main conditions of implementation of the state external borrowings in 2022 by attraction of the credit from Her Majesty Korolevy on behalf of Canada provided by the Minister of Finance which are applied.

3. To the Ministry of Finance to provide in case of creation of the draft of the government budget of Ukraine for the corresponding year of means for repayment and servicing of the state external borrowings performed according to this resolution.

Prime Minister of Ukraine

D. Shmygal

Approved by the Resolution of the Cabinet of Ministers of Ukraine of April 9, 2022 No. 416

The main conditions of implementation of the state external borrowings in 2022 by attraction of the credit from Her Majesty Korolevy on behalf of Canada provided by the Minister of Finance

1. The state external borrowings in 2022 are performed by attraction of the credit from Her Majesty Korolevy on behalf of Canada provided by the Minister of Finance (further - the credit), for the total amount which is not exceeding 500 million dollars or equivalent in US dollars and are provided according to the credit agreement between Ukraine on behalf of the Minister of Finance of Ukraine as the borrower, Her Majesty Korolevoy on behalf of Canada provided by the Minister of Finance as the creditor and Export credit agency of Canada as the agent (further - the credit agreement) in the limits provided by the Law of Ukraine "About the Government budget of Ukraine for 2022".

2. The loan is granted by three tranches:

A tranche - on the amount to 300 million Canadian dollars or equivalent in US dollars;

tranches of B and C - for the total amount which is not exceeding remaining balance of stipulated in Item 1 these Main conditions of total amount which is available after selection of tranche of A in Canadian dollars or equivalent in US dollars.

3. On credit amount percent on the annual interest rate equal to the Commercial orient interest rate (CIRR) operating for date of selection of each tranche are charged it is established according to the Agreement of Organization for Economic Cooperation and Development of currency for the corresponding tranche and borrowings repayment period from 8,5 up to 10 years (inclusive).

Interests are paid each six months from the date of selection of tranche of A in accordance with the terms of the credit agreement.

4. Final loan repayment is performed in 10 years of date of selection of tranche of A.

5. Repayment and servicing of the credit are performed at the expense of the means provided by the law on the Government budget of Ukraine for the corresponding year.

6. Other conditions of attraction of the credit are determined by the credit agreement and other documents connected with its attraction.

 

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