Arab Canada News

News

Canada will allocate approximately $3.6 billion to Ukraine as part of the G7 loan.

Canada will allocate approximately $3.6 billion to Ukraine as part of the G7 loan.

By م.زهير الشاعر

Published: June 15, 2024

Canadian Prime Minister Justin Trudeau said that his country intends to allocate 5 billion Canadian dollars (about 3.6 billion US dollars) to Ukraine as part of a public loan from the G7 countries, according to "Russia Today".

The Canadian Prime Minister added at a press conference in Italy on the last day of the G7 summit: "As the G7 finalizes an emergency and rapid lending program, Canada is showing readiness to play its part and participate with a funding of 5 billion Canadian dollars."
According to him, this is the first installment of these vehicles, which will deliver a total of 50 pieces to the Ukrainian armed forces.

On June 14, a White House representative said at a press conference that Ukraine could receive a loan from the G7 countries worth 50 billion dollars as a grant, and that it would not have to pay anything back.

The final statement of the G7 leaders, which was adopted at the summit in Italy, states that "in order to ensure the current and future needs of Ukraine in the context of the necessity to protect against Russia," the G7 will launch a loan program for Ukraine, under which approximately 50 billion dollars in additional funding will be provided to Kyiv by the end of the year.

The profits from frozen Russian assets will be used as collateral for lending to Ukraine.

Comments

Related

Weather

Today

Friday, 04 July 2025

Loading...
icon --°C

--°C

--°C

  • --%
  • -- kmh
  • --%