Canada pledges 500 million euros toward Ukraine support loan amid 2027 budget shortfall
The Canadian contribution follows similar announcements made by other allies. Norway pledged $9 billion for 2027 on Oct. 7, and on Oct. 28, the U.K. announced a $13 billion pledge to Ukraine, its largest ever.
Canada has pledged an initial 500 million euros to the EU's Ukraine Support Loan, Prime Minister Mark Carney announced on October 30 during the EU-Canada Summit in Montreal. This contribution joins other partners in addressing Ukraine's budget shortfall, which is expected to reach 70 billion euros next year, despite EU funding of 45 billion euros already earmarked.
The loan will be Canada's initial contribution, with Carney stating, "500 million euros will be our initial contribution." Additionally, Canada's participation in the 90 billion-euro loan mechanism would enable Ukraine to procure military equipment from Canadian defense firms using EU funds. Canada is also expected to announce further financial support for Kyiv.
This pledge follows similar pledges by Norway ($9 billion) and the U.K. ($13 billion), the latter being the largest ever. Ukraine's budget deficit is being actively discussed among the European Commission and the 27 EU countries, with hopes that the bloc will announce additional financial support by year-end.
Written by urgent.news from Kyiv Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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