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.