Canada in talks to join EU's €90 billion loan package for Ukraine
According to the Financial Times, Canada is negotiating to participate in the European Union's 90 billion-euro support loan for Ukraine. Both parties aim to finalize Ottawa's contribution before the EU-Canada Summit in Montreal at the end of October.
Canada is negotiating to join the EU's 90-billion-euro loan for Ukraine, with both sides hoping to settle Ottawa's contribution before the Montreal summit in late October. The loan, which began disbursing in June, allocates 6.1 billion euros for air defenses, missiles, and radar. The UK is currently the only non-EU participant.
The effort is part of Prime Minister Carney's broader strategy to reduce Canada's dependence on the US amid trade disputes, including interest in EU association membership. Canada has already committed $8.5 billion in military support since 2022, and recently signed a 100-year partnership with Ukraine, alongside $2 billion in new investment pledges.
Canada's potential participation could broaden the financial coalition supporting Ukraine, potentially easing Kyiv's critical air-defense shortages. For Ottawa, this move may deepen its European alignment, possibly accelerating its pivot away from US economic dependence, though it could also exacerbate trade tensions with Washington. For the EU, having another non-member contribute may encourage similar commitments from other allies, strengthening the overall response to Russia's invasion. The impact on ordinary Ukrainians could be tangible, with more funds for protective systems.