Canadian Prime Minister Mark Carney on Saturday announced an additional USD 2.5 billion (PHOTO: X)
Canadian Prime Minister Mark Carney on Saturday announced an additional $2.5 billion in economic assistance for Ukraine, positioning the move as part of wider international efforts to support the war-torn country.
Speaking alongside Ukrainian President Volodymyr Zelenskyy, Carney said the funding would help unlock further international financing at a critical moment in the conflict.
According to a news release from the Prime Minister’s Office, around $1.6 billion of the assistance will be delivered as loan guarantees to the World Bank’s International Bank for Reconstruction and Development and the European Bank for Reconstruction and Development.
The remaining funds will support International Monetary Fund lending to Ukraine, while Canada will also participate in an “extended and expanded debt service suspension” for Kyiv.
Zelenskyy’s visit to Canada followed a phone call with Carney on Friday, with the Prime Minister’s Office confirming that the two leaders met at around 1 pm AT on Saturday.
In a statement, Zelenskyy said he briefed Carney on Ukraine’s diplomatic engagement with the United States aimed at ending the war that began with Russia’s invasion in February 2022.
The Ukrainian President is scheduled to meet US President Donald Trump on Sunday, likely at Trump’s Mar-a-Lago estate in Florida, where he plans to present a 20-point peace proposal. Zelenskyy said the discussions would centre on security guarantees for Ukraine and a possible economic agreement, while noting that it remained unclear whether any deal would be finalised.
The visit came hours after Russia launched drones and missiles at Kyiv in its latest attack on the capital. Later on Saturday, Moscow also claimed fresh gains on the battlefield, saying its forces had captured two towns at separate locations along the frontlines.
Zelenskyy said the renewed assault demonstrated that Moscow had no intention of ending the war, accusing the Kremlin of pressing ahead with its invasion despite Kyiv’s efforts to pursue peace.
Since Moscow invaded Ukraine in February 2022 on a grand scale, Canada has been a major provider of support to the Ukrainian defence. Although Canada is not a direct military superpower in the fracas, its support has had significant strategic, military and humanitarian impacts.
Canada has provided Ukraine with weaponry, ammunition, armored vehicles, air defence systems, surveillance equipment, and winter gear on the military front. Such contributions enhance the strength of Ukraine to defend the territories, defend the civilians, and counter the Russian attacks.
Canada has also supplied Leopard 2 main battle tanks, and also assisted in training Ukrainian forces under NATO-led operations, enhancing readiness on the battle field and coordination of operations.
One of the contributions that have been influential has been training in Canada. Canadian troops have trained tens of thousands of Ukrainian soldiers both pre-invasion and post-invasion through Operation UNIFIER.
This training has enhanced the command structure, logistics and utilization of Western-supplied weapons in Ukraine, which has a direct impact on combat effectiveness.
At financial level, Canada has assisted Ukraine to continue to run necessary government services in war time with direct budgetary support and loans.
The aid saves Kyiv the ability to pay its salaries, have institutions active to maintain its economy in chaos due to the war. Canada has also supported international actions to implement frozen Russian funds to aid in the recovery of Ukraine.
The Canadian humanitarian response to the war takes care of the civilian cost. Medical care, shelter, food security and refugee support financing are some measures to alleviate the humanitarian crisis due to Russian attacks on the infrastructure and cities.
On the international front, the sanctions of Canada on Russia, and its membership in NATO, the G7 strengthen the pressure on Moscow.
Although the outcome of the war depends not only on the Canadian aid, but on the decisions made by the collective, the Canadian aid reinforces Ukraine, preserves its capacity to defend itself, and is part of the collective work to resist Russian aggression and help Ukraine to maintain its independence.
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