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Mark Carney (Photo: REUTERS/Denis Balibouse)
Canada
will contribute EUR500 million ($585 million) to the European Union’s EUR90
billion ($105.3 billion) loan program for Ukraine, Prime Minister Mark Carney
announced on Oct. 30.
“As for the loan to Ukraine, EUR500 million will be our
initial contribution,” Carney said at a joint news conference with European
Commission President Ursula von der Leyen and European Council President
Antonio Costa.
“This is a very important and effective mechanism, and I
really commend the innovative approach taken by President von der Leyen, the
European Commission and President Costa in creating it and using frozen assets
to provide Ukraine with this much-needed financing.”
Carney said Canada’s contribution was an example of the
recently announced association agreement between Canada and the European Union.
He described the initiative as a “positive alliance.”
On Oct. 16, Ukrainian President Volodymyr Zelenskyy
asked participants in a European Council summit to provide Ukraine with at
least EUR70 billion ($81.9 billion) in additional defense and weapons aid in
2027.
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