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Avellum Advises Ministry of Finance of Ukraine on Loans Extended by Italy and Canada

Avellum Advises Ministry of Finance of Ukraine on Loans Extended by Italy and Canada

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Avellum has advised the Ministry of Finance of Ukraine on extending a EUR 200 million 15-year loan from the Italian Republic and a CAD 450 million 10-year loan from Canada. Sayenko Kharenko advised the Government of Canada.

According to Avellum, "the loan from Italy will help to cover the social expenses of the state budget of Ukraine, including to pay salaries to teachers in Ukraine. Italy co-finances these expenses together with USD 4.5 billion financing provided by the World Bank under its PEACE project."

"The loan from Canada will be directed towards the general purposes of the state budget of Ukraine," the firm added. "This latest loan brings total financial support provided by Canada to date in 2022 to CAD 1.95 billion."

The Avellum team was led by Senior Partner Glib Bondar and included Senior Associate Oleg Krainskyi and Associates Mariana Veremchuk, Yaroslav Pavliuk, and Oleksandra Mohylna.

The Sayenko Kharenko team was led by Partner Igor Lozenko and included Associates Oles Trachuk, Vladyslava Mitsai, and Oleksandr Motin.

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