Canada plans to join the Ukraine Support Loan programme for Ukraine, with a total value of €90bn.
Relevant technical consultations between the European Commission and the Canadian side are already under way in Brussels, European Pravda reports.
European Commission spokesperson Balazs Ujvari explained that EU rules allow countries outside the bloc to be brought into this lending mechanism. To do so, partners must provide substantial support to Ukraine in the financial and military spheres, have a security agreement with the EU, and share the costs of servicing the loan. According to Ujvari, Ottawa fully meets the criteria thanks to its existing partnership with the EU under the SAFE defence initiative.
Talks are continuing, and widening the circle of participants will enable Ukraine to choose the best and most urgently needed military equipment for its own needs. The spokesperson also recalled that the UK had previously joined this loan programme successfully.
- The €90bn loan was approved by the European Council last December. These funds are critically important to meeting Ukraine’s most urgent needs in 2026-2027.
- In May, Ukraine and the European Union finally agreed the text of the €90bn lending agreement