To help Ukraine repair and strengthen its energy infrastructure ahead of another winter under attack from Russia, Canada has announced new support.
The announcements were made during Ukrainian President Volodymyr Zelenskyy’s visit to Canada and his meeting with Canadian Prime Minister Mark Carney
According to the website of the Office of the Prime Minister of Canada, the Canadian government will provide the European Bank for Reconstruction and Development with new loan guarantees totaling nearly 435 million Canadian dollars to support energy security, including the purchase of natural gas during the winter and backup generators for electricity production during shortages.
Canada is allocating 200 million Canadian dollars in concessional loans through Export Development Canada to support Ukraine’s reconstruction. As emphasized by the Prime Minister’s Office, this will help Ukraine repair critical infrastructure while providing Canadian companies with the opportunity to support critical projects.
The support package includes an additional 10 million Canadian dollars for the Ukraine Energy Support Fund, bringing the total to $100 million, to support Ukraine’s energy infrastructure, including the procurement and delivery of critical energy equipment to enhance Ukrainians’ resilience to energy disruptions.
In addition, Canada announced a contribution of 2 million Canadian dollars to the International Energy Agency’s (IEA) Joint Work Program to support the development of Ukraine’s energy resources. This funding will strengthen Ukraine’s energy resilience, provide regulatory support, and promote clean energy projects.
