Canada seeking to join EU support loan to Ukraine, FT reports
Canada and the EU hope to finalize the amount Ottawa will contribute to the loan before the upcoming EU-Canada Summit in Montreal in late October, according to FT.
Canada is reportedly considering joining the EU's 90 billion-euro support loan to Ukraine, according to sources familiar with the matter, as reported by the Financial Times on September 13. The EU has unveiled the loan to provide financial aid to Ukraine amid the ongoing war, with a majority of the funds designated for defense purposes.
As of June, Ukraine had received the first tranche of the loan, which includes 6.1 billion euros for air defenses, missiles, ammunition, and radars to counter Russian forces' relentless attacks on Ukrainian cities. Currently, the United Kingdom is the sole non-EU country participating in the loan. Canada's interest in contributing to the loan is part of Prime Minister Mark Carney's broader strategy to strengthen ties with Europe, aiming to reduce Canada's dependence on the United States amidst President Trump's trade war.
Carney has also shown interest in Canada potentially joining the EU through an association membership. Since the Russian invasion of Ukraine began in 2022, Canada has pledged $8.5 billion in military support and over $750 million for Ukraine's recovery and reconstruction efforts. On September 10, Canada and Ukraine declared a 100-year partnership, committing to enhance cooperation in various sectors following discussions between President Volodymyr Zelensky and Carney.
Following their talks, Carney and Zelensky announced agreements and investment commitments totaling more than $2 billion. Canada had previously announced over $900 million in new military aid for Ukraine on July 7.
Written by urgent.news from Kyiv Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
