September 15, 2014 / 12:43 PM / 5 years ago

Ukraine to borrow 200 million Canadian dollars in 2014

KIEV (Reuters) - Ukraine, which expects a total $7.6 billion in IMF loans in 2014, plans to borrow an additional 200 million Canadian dollars ($180 million) later this year, the government said on Monday.

A government document said the interest rate for the 5-year Canadian loan would not exceed 3 percent per year.

Kiev has already received two disbursements under a $17 billion International Monetary Fund bailout. The IMF said this month that Ukraine might need as much as $19 billion in extra funds from donors if its conflict with pro-Russian separatists continues into 2015. [ID:nL1N0R30X1]

More than 3,000 people have been killed in the conflict. The two sides have been broadly observing a ceasefire since Sept. 5, despite sporadic violations.

Ukraine’s government has said it faces a $3.5 billion funding shortfall for this year and next due to the fighting, but the Fund said the government should be able to cover most of it with planned debt issues and an expected $900 million in further donor support.

Reporting By Pavel Polityuk; Editing by Ruth Pitchford

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