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.
