Toronto, Dec 29: Canada has announced an additional USD 2.5 billion economic assistance package for Ukraine, Prime Minister Mark Carney said on Saturday following a meeting with Ukrainian President Volodymyr Zelenskyy in Halifax, Nova Scotia. The announcement underscores Canada’s continued backing for Ukraine’s economy as it faces the impacts of Russia’s ongoing invasion. Carney said the new commitment aims to unlock further international financing and support Ukraine’s recovery and reconstruction efforts in collaboration with the International Monetary Fund (IMF) and other global institutions. Part of this package is intended to enable the IMF to extend additional lending to Ukraine, while Canada also plans to participate in expanding debt service suspensions to ease Kyiv’s financial burdens.
Under the new measures, Canada will provide guarantees facilitating reconstruction loans through the World Bank’s International Bank for Reconstruction and Development, as well as support at the European Bank for Reconstruction and Development to reinforce Ukraine’s energy security and broader economic stability.
Carney reaffirmed Canada’s steadfast support, framing the assistance as part of a broader effort to secure a just and lasting peace for Ukraine. The package builds on nearly USD 22 billion in multifaceted aid that Canada has already provided since the start of the conflict, including direct financial support, military assistance and humanitarian contributions — one of the largest per capita commitments among G7 nations.