Canada in talks to join EU's €90 billion loan for Ukraine

Canada is in negotiations to take part in the European Union's €90 billion loan supporting Ukraine, according to sources cited by the Financial Times and reported by European Pravda. Canadian Prime Minister Mark Carney is pursuing the move as part of a broader effort to deepen transatlantic ties and lessen his country's reliance on the United States.

According to the sources, both Canada and the EU hope to finalize the size of Canada's contribution before the EU summit scheduled for late October in Montreal. Carney has reportedly been working to build a coalition of liberal democracies committed to preserving a multilateral international order — an order the sources say has been destabilized by the actions of US President Donald Trump. Contributing to the Ukraine loan is seen as a way for Carney to signal his commitment to European partners.

Currently, the United Kingdom is the only non-EU country that has already contributed to the loan. A European official expressed gratitude for Canada's ongoing support of Ukraine and voiced readiness to expand cooperation further, adding that the EU is seeking the closest possible relationship with Canada.

Upcoming meetings

Carney is traveling to Europe, where he is set to meet European Commission President Ursula von der Leyen in Strasbourg on 16 September. He is then expected to travel to Liverpool for a meeting with the UK's new Prime Minister, Andy Burnham.

Background

It recently emerged that EU member states had agreed to purchase US-made interceptor missiles for Ukraine's Patriot air defense systems, worth €3.2 billion, funded through the same €90 billion loan. The EU has also noted that the loan will only cover about two-thirds of Ukraine's financial needs for 2026-2027.