Canada Gives Ukraine $2.2 Billion Lifeline as Kyiv Awaits US Aid

Canada Gives Ukraine $2.2 Billion Lifeline as Kyiv Awaits US Aid

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(Bloomberg) — Canada will provide Ukraine C$3 billion ($2.2 billion) in aid this year to prop up the war-ravaged economy and boost its military as Kyiv looks for ways to hedge against a potential shortfall in US assistance. 

The Canadian funding will help Ukraine’s government meet its balance of payments and budgetary needs, Prime Minister Justin Trudeau’s office said in a statement. It will also contribute to a joint Western effort for sending tanks and, at some future point, fighter jets to Ukraine, as well as meet other military needs.

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Ukraine is looking for ways to replenish dwindling military supplies as a vital $60 billion assistance package from the US remains blocked in Congress after many House Republicans opposed it, goaded by former President Donald Trump, the likely GOP nominee this year. 

Read more: Ukraine Enters Third Year of War as Stalled US Aid Dims Outlook

Trudeau visited Ukraine on Saturday in a show of support where he spoke to the press alongside President Volodymyr Zelenskiy and other leaders on a tarmac at Hostomel airport, one of the first places attacked by Russia two years ago. 

“We will stand with Ukraine with whatever it takes, for as long as it takes,” he said in the statement.

Read more: Trudeau Sanctions More Russians as War’s Anniversary Nears 

Trudeau and Zelenskiy also signed a security agreement aimed at deepening cooperation between the two countries. 

The measure doesn’t include a commitment to fight directly on Ukraine’s behalf, but promises assistance in the post-war reconstruction and to help deter any future Russian aggression. 

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Italian Prime Minister Giorgia Meloni, who was in Kyiv along with Trudeau, also signed a security pact with Ukraine, while France and Germany last week concluded separate long-term deals aimed at deterring Russia. The Dutch government said Friday it also would sign its own agreement with Kyiv soon. 

Read more: Ukraine Gets Long-Term German and French Security Guarantees

—With assistance from Laura Dhillon Kane.

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