Canada weighs joining EU's €90 billion loan for Ukraine

Canada is in talks about supporting the European Union's €90 billion loan program for Ukraine, the Financial Times reported, citing its own sources. The report was also covered by Yevropeiska Pravda.

According to the sources, both sides hope to agree on the size of Canada's contribution before a summit in Montreal at the end of October. Canadian Prime Minister Mark Carney reportedly wants to strengthen transatlantic ties to reduce his country's dependence on the United States.

Alliance of liberal states

Sources say Carney has been seeking to build an alliance of liberal democracies committed to a multilateral order, which they describe as having been thrown into disarray by the policies of US President Donald Trump. By contributing to the loan supporting Ukraine, Carney is said to hope to demonstrate commitment to European allies.

Currently, the United Kingdom is the only non-EU country participating in the loan. A European official said they were grateful for all the support Canada has given Ukraine and were ready to do even more together.

This week Carney travels to Europe, where he is expected to meet European Commission President Ursula von der Leyen in Strasbourg on Wednesday. He is then expected to fly to Liverpool to meet new UK Prime Minister Andy Burnham. The European official added that the EU wants as close a relationship as possible with Canada.

It recently emerged that EU member states agreed to purchase American interceptor missiles for Patriot systems for Ukraine worth €3.2 billion, funded through the same €90 billion EU loan. EU officials also noted that the €90 billion in aid will cover only two-thirds of Ukraine's needs for 2026-2027.