Lithuania calls on Canada to join ‘Marshall Plan’ for Ukraine

Lithuania calls on Canada to join ‘Marshall Plan’ for Ukraine

A Government delegation of Lithuania during its visit to Ottawa at the end of 2017 touched upon the issue of Canada’s joining a multibillion-dollar investment plan for Ukraine.

This is said in the article published by The Globe & Mail.

"Lithuania is urging Canada to sign on to a long-term package of support for Ukraine that would funnel more investment into the Eastern European country and strengthen its ties with the West as Kyiv struggles to fight internal corruption and rebuild its economy despite a war with Moscow-backed militants," reads the article.

The Lithuanian government in concert with Ukraine is championing what is provisionally called a "European Plan for Ukraine" and would disburse an estimated $7.47-billion annually to Ukrainian recipients for a period of 10 years.

It's not clear how much Canada would be asked to make available to Ukraine in the form of loans or donations.

Canada has already lent Ukraine close to three-quarters of a billion dollars in the past decade, including more than $250-million in 2009 to finance a Canadian-built satellite system. Since January, 2014, Canada provided more than $400-million in low-interest loans to help Ukraine stabilize its economy and undertake reforms.

The Lithuanian government delegation hopes that Canada, which will serve as chair of the Group of Seven countries throughout 2018, can make Ukraine a priority for its tenure, the article said.

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