Canada to join EU’s €90 billion loan for Ukraine — Dawn

Canada will join the European Union’s €90 billion loan to support Ukraine, with the country’s initial contribution amounting to €500 million. This was announced following a two-day Canada-EU summit in Montreal.

As Dawn reports, Canada and the European Union also announced an alliance under which they will cooperate in the areas of critical minerals and artificial intelligence.

Canada-EU cooperation

The talks were attended by Canadian Prime Minister Mark Carney, European Commission President Ursula von der Leyen, and European Council President António Costa. Carney said that the world is becoming more dangerous and more divided, referring to the weakening of democratic norms and the use of trade as a tool of pressure.

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Canada and the EU already have a free trade agreement and sought to strengthen relations following the return of U.S. President Donald Trump to power. According to the publication, both sides have faced U.S. tariffs and territorial threats.

Support for Ukraine

Before the meeting, von der Leyen noted that Canada cannot become a full member of the EU due to its geographical location, but Brussels seeks to bring the sides as close together as possible. The announcement of Canada’s participation in the loan for Ukraine came as the European Union is looking for ways to cover Kyiv’s funding shortfall.