Canada Considers Joining EU €90 Billion Ukraine Loan

Canada is negotiating a contribution to the European Union’s €90 billion loan for Ukraine as Prime Minister Mark Carney seeks to strengthen ties with Europe and reduce his country’s dependence on the United States.The Financial Times cited Yevropeiska Pravda, quoting people briefed on the discussions that Ottawa and Brussels hope to agree on the size of Canada’s contribution before the EU-Canada summit in Montreal in late October.JOIN US ON TELEGRAMFollow our coverage of the war on the @Kyivpost_official.Carney has sought to build an alliance of liberal countries committed to a multilateral international order that has been disrupted by the policies of US President Donald Trump, according to the report. Supporting the Ukraine loan would allow Canada to further demonstrate its commitment to its European allies.Britain is currently the only country outside the EU participating in the loan initiative.“We are grateful for all the support that Canada is providing to Ukraine, and we are ready to do more together,” an unnamed European official said.Carney is scheduled to travel to Europe this week and meet European Commission President Ursula von der Leyen in Strasbourg on Wednesday. He is then expected to visit Liverpool for talks with British Prime Minister Andy Burnham.“The EU wants the closest possible relationship with Canada, and that is what we are working towards,” another European official said.The EU finalized the €90 billion loan to help cover Ukraine’s budgetary and defense needs in 2026 and 2027in April. The package is financed through EU borrowing on capital markets and backed by the bloc’s budget. Other Topics of Interest Ukraine Faces New Russian Jet-Powered Drones | Stefan Korshak While Ukraine can intercept many conventional drones and ballistic missiles, faster jet-powered Geran drones are creating increasingly difficult threats. About €30 billion is allocated for macroeconomic and budgetary assistance, while €60 billion is intended to support Ukraine’s defense capabilities and weapons procurement. The assistance is tied to conditions including rule-of-law and anti-corruption reforms.The European Commission disbursed the first €3.2 billion instalment under the loan on June 25, with a further €3.9 billion was released on June 30 intended for drone procurement. Kyiv Post is Ukraine’s first and oldest English news organization, reporting since 1995. Its international reach – 97% of readers are outside of Ukraine – make it truly Ukraine’s global voice.