Canada seeking to join EU support loan to Ukraine, FT reports
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Canada is currently discussing joining the EU's 90 billion-euro ($105 billion) support loan to Ukraine, sources familiar with the matter told the Financial Times (FT) on Sept. 13.
Canada and the EU hope to finalize the amount Ottawa will contribute to the loan before the upcoming EU-Canada Summit in Montreal in late October, according to FT.
The Ukraine Support Loan, unveiled in Jan. 2026 by the EU, will provide a financial lifeline to Ukraine amid the ongoing war, with the majority of the funds earmarked for defense. In June, Ukraine received the first tranche of the loan.
Through the loan, 6.1 billion euros ($7.1 billion) will be spent on air defenses, missiles, ammunition, and radars as Russian forces continue to pummel cities across Ukraine amid a critical shortage of air defense systems.
So far, the U.K is the only non-EU country participating in the loan.
The Canadian push to contribute to the loan is part of a broader effort by Canadian Prime Minister Mark Carney to strengthen ties with Europe, according to FT. The strategy aims to reduce Canada's dependence on the United States amid President Donald Trump's trade war with the nation.
Carney has also expressed interest in Canada joining the EU through an "association membership."
Since the beginning of Russia's full-scale invasion of Ukraine in 2022, Canada has committed $8.5 billion in military support and over $750 million for Ukraine’s recovery and reconstruction, according to the Canadian Prime Minister's Office.
On Sept. 10, Canada and Ukraine declared a 100-year partnership, agreeing to deepen cooperation in defense, energy, technology, trade, and reconstruction following discussions between President Volodymyr Zelensky and Carney.
Carney and Zelensky announced agreements and investment commitments worth more than $2 billion following the talks.
Canada previously announced more than $900 million in new military aid for Ukraine on July 7.
