Canada announces $2.5 billion in economic aid for Ukraine
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Güneşli
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Canada will provide 2.5 billion Canadian dollars ($1.8 billion) in economic assistance to Ukraine, Prime Minister Mark Carney announced on Friday during a joint appearance with Ukrainian President Volodymyr Zelensky in Halifax.
Speaking to reporters, Carney said the financial support is aimed at strengthening Ukraine’s economic resilience and helping unlock additional international funding. “This assistance will help unlock financing from the International Monetary Fund (IMF),” he said.
Carney emphasized that continued support for Ukraine remains essential amid ongoing Russian attacks. “The attack on Kyiv shows just how important it is that we stand with Ukraine during this difficult time and that we create the conditions for a just and lasting peace and a true reconstruction,” he added.
According to a statement from the Canadian government, the funding will enable the IMF to lend Ukraine an additional $8.4 billion through its Extended Fund Facility program.
The package also includes measures to support Ukraine’s long-term reconstruction. Canada will provide loan guarantees of up to 1.62 billion Canadian dollars ($1.1 billion) through the World Bank and the European Bank for Reconstruction and Development (EBRD), aimed at rebuilding critical infrastructure and stabilizing the country’s economy.
The announcement came during a brief visit by President Zelensky to Canada, ahead of his scheduled meeting with U.S. President Donald Trump at Trump’s Mar-a-Lago residence in Florida on Dec. 28. The two leaders are expected to discuss a 20-point peace plan.
Before Zelensky’s talks with Trump, Carney and Zelensky are set to hold bilateral discussions, followed by a broader phone call with European leaders to coordinate diplomatic and financial support for Ukraine.
Canada’s aid pledge follows a major decision by European leaders earlier this month. On Dec. 19, European governments approved an interest-free loan package totaling 90 billion euros ($105.5 billion) for Ukraine for the 2026–2027 period, as Kyiv faces the risk of running out of funds by mid-2026.
Prior to the latest announcements, Ukraine was estimated to need approximately $50 billion in additional funding from international partners to meet its budgetary requirements.
Canada has been one of Ukraine’s most consistent supporters since the start of the conflict, providing military, humanitarian, and financial assistance as Kyiv continues to seek international backing for its defense, recovery, and peace efforts. (ILKHA)
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