Ottawa intends to contribute to the EU loan for Ukraine

Ottawa intends to contribute to the EU loan for Ukraine

Canada is discussing the possibility of joining the 90 billion euro loan program allocated by the European Union for Ukraine. The parties aim to determine the amount of Canada's contribution to this program before the EU-Canada summit scheduled to be held in Montreal at the end of October.

Citing sources, the publication reports that Canadian Prime Minister Mark Carney wants to demonstrate a desire to further strengthen transatlantic ties with Europe through this initiative. At the same time, Ottawa is trying to reduce its dependence on the US in foreign economic and political relations.

According to the Financial Times, Carney is in favor of establishing close cooperation between liberal states that support the multilateral international order.

So far, the United Kingdom is the only non-EU country to have joined this loan program for Ukraine. If Canada also joins the program, the number of participants from outside the EU will reach two.

Ottawa has also provided a large volume of military aid to Ukraine in recent years. According to the Financial Times, the military assistance provided by Canada amounts to 6.5 billion Canadian dollars, which is approximately 4.7 billion US dollars.

In addition, on September 10, Canadian Prime Minister Mark Carney and Ukrainian President Volodymyr Zelenskyy signed a declaration on a 100-year partnership. The document, among other things, provides for cooperation in defense innovations.

Canada's rapprochement with the European Union is not limited only to the issue of aid to Ukraine. Ottawa is also seeking to expand economic and technological cooperation with Brussels.

In particular, Canada is interested in joining the European Union's supercomputer network in order to cooperate in the field of artificial intelligence. The possibility of signing a separate agreement on digital trade with Brussels is also being discussed.