Canada to provide $150M loan to Ukraine

Canada to provide $150M loan to Ukraine

Canada will provide a CAD200 million (nearly USD150 million) loan to Ukraine through the International Monetary Fund to help meet its urgent liquidity needs.

That’s according to Canadian Prime Minister Justin Trudeau, who spoke at a press conference following the G7 summit, an Ukrinform correspondent reports.

In addition, he announced $73 million in humanitarian assistance that Canada pledged on April 9, 2022, has now been allocated to address the crisis in Ukraine and neighboring countries.

He added that Canada backs the EU's decision to grant Ukraine candidate status for accession to the European Union, noting that Canada stands determined to continue to support Ukraine, which is bravely defending its territorial integrity and sovereignty.

Read also: Canada tightens sanctions against Russia and Belarus

It should be recalled that the summit of the Group of Seven leaders (the United States, Canada, Japan, Italy, France, Great Britain, and Germany) finished in Germany on Tuesday. Topics of further support for Ukraine and increasing pressure on Russia were on the top agenda during the summit.

Memo. In the wake of the Russian invasion, Canada gave Ukraine $1.6 billion in loans and $1.3 billion in direct assistance, including $320 million in humanitarian support.

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