Canada will provide Ukraine $1.2B in military aid and a soft loan of $300M.

Over five years, Canada will provide CAD 1.6B (about $1.2B) for various lethal and non-lethal military aid packages to Ukraine, according to a project contained within the budget that has been submitted to parliament. It is noted that this multi-year promise will provide predictability to Ukraine and the Canadian defense industry.

Since the start of the war, Canada has pledged over CAD 4B ($3B) in military aid to Ukraine, part of the CAD 14B (over $10.7B) in total support given to Ukraine since February 2022.

In addition, this year the Canadian government will provide Ukraine with another preferential loan of CAD 400M ($307M). In particular, the 2024 budget announces Canada’s intention to provide Ukraine with CAD 2.4B in loans, of which CAD 2B was transferred on March 20 through a special IMF administrative account.

Also, within five years the country will transfer €137.2M to the EBRD, which will be used to reconstruct Ukraine.