Canada announces loan of up to $120 million to support Ukraine’s economic resilience and development

Global Affairs Canada

Canada stands resolute in its support of Ukraine’s sovereignty, territorial integrity and independence.

Today, the Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada, and the Honourable Mélanie Joly, Minister of Foreign Affairs, announced that Canada has offered to provide a loan of up to $120 million to the Government of Ukraine to support the country’s economic resilience and governance reforms.

In addition, Canada has also offered to provide a technical assistance grant of up to $6 million to support the implementation of the loan. Canadian and Ukrainian officials are already meeting to discuss the potential terms of the loan and a timeline for its implementation.

Today’s commitment shows that Canada will continue to support Ukraine and its people. This proposed support will help reinforce Ukraine’s economy amid Russia’s aggressive efforts to destabilize Ukraine’s economic system. These aggressive efforts continue to jeopardize peace and security in Europe. Alongside its allies, Canada calls on Russia to de-escalate and engage in meaningful dialogue.

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