“[Ukrainian] Finance Minister Natalie Jaresko signed a loan agreement on March 25 with the Canadian Export Agency as an agent from Her Majesty the Queen in the name of Canada for a total of 200 million Canadian dollars,” a statement on the ministry’s website reads.
The loan is for a period of five years with an annual rate of 1.4 percent.
“The funds for the loan should be received March 31, 2015,” the ministry said.
Ukraine is on the verge of default, as the conflict with independence forces in its southeastern regions is directly impacting the country's economy.
On Tuesday, Ukrainian Prime Minister Arseniy Yatsenyuk said that due to the almost year-long conflict in Donbas, the country has lost 25 percent of the value of its economy and hundreds of businesses have closed.
In a bid to stabilize Ukraine's economy, the International Monetary Fund (IMF) has approved a four-year $17.5-billion financial aid program in exchange for Kiev's commitment to implement deep political, social and financial reforms.