Canadian Prime Minister Justin Trudeau has announced that the government is committed to providing up to CAD 389 million ($285 million at current exchange rates) to improve the training of Ukrainian F-16 pilots through the Air Force Coalition within the framework of the Ukraine Defense Contact Group.
According to a statement on the Canadian Prime Minister’s website, Trudeau promised to provide further assistance so that Ukraine can continue to defend its freedom.
In particular, the Canadian support includes the allocation of up to CAD 389 million to improve the training of F-16 pilots.
“These funds, allocated as part of previously announced military funding, will support pilot training in the Ukrainian armed forces, as well as provide critical equipment to ensure the safe operation of the F-16 in Ukraine,” the statement said.
According to the press service, this will be a multi-year contribution to the Air Force Capability Coalition (up to $389 million over five years). This support builds on more than $75 million provided to the Air Force Coalition for maintenance instructors in Denmark, aircraft and pilot instructor training in France, critical equipment and ammunition for the F-16, and English language training at the Canadian Forces Language School.
“These activities are a multi-year program that will be carried out using previously allocated funding announced in February 2024,” the statement said.
The prime minister’s office also recalled the allocation of an additional CAD 500 million for military assistance to Ukraine announced earlier at the NATO summit as part of NATO’s promise of long-term security assistance to Ukraine. This includes almost $444 million to National Defence Canada to cover the cost of military equipment, assistance and training for the Ukrainian Armed Forces, as well as more than $56 million for the NATO Comprehensive Assistance Package (CAP) trust fund for Ukraine to help rebuild Ukraine’s security and defense sector and facilitate Ukraine’s transition to full interoperability with NATO. Canadian funding through CAP also provides equipment for women in the Ukrainian Armed Forces.
“These additional funds are in addition to Canada’s existing military assistance to Ukraine totaling $1.1 billion this year,” the statement said.
Canada has allocated CAD15 million ($10.94 million) for the completion of the second stage of the National Museum of the Holodomor Genocide, the press service of the Ministry of Culture and Information Policy of Ukraine reports.
“I want to confirm that the funds – CAD15 million – have been allocated. They are ready for this project, this initiative to continue the construction of the second phase of the Holodomor Museum. And we are now doing all our internal procedures to make sure that everything happens,” said Stephen Weaver, head of the International Development Section of the Embassy of Canada in Ukraine, following a meeting with acting Minister of Culture and Information Policy of Ukraine Rostyslav Karandieiev.
In turn, the Ukrainian official thanked Canada for its assistance and emphasized that the activities of the National Museum of the Holodomor Genocide should inspire Ukrainians and the international community to promote freedom and dignity, prevent genocide and prioritize human rights.
The number of companies in the U.S. and Canada hit by cyber extortion has reached a record high in 2023, with unprecedented ransom demands, according to the report “Ransomware: a persistent problem in cyber insurance claims” by global insurance broker Marsh, according to its website.
It notes that nevertheless, as cybercriminals become bolder in their requests, more companies are refusing to pay.
Overall, 21% of Marsh’s clients reported cyber events in 2023, the vast majority of which were privacy claims and system attacks leading to unauthorized access and potentially exposed data.
According to Marsh , this rate has remained fairly stable over the past five years – between 16% and 21% – suggesting in part that companies’ cyber controls are keeping pace with the increasing sophistication and frequency of cyberattacks.
However, a record 282 ransomware incidents were reported to Marsh in 2023, a 64% increase from 2022. Although ransomware accounts for only 17% of all filed cybercrimes, ransomware remains a major concern for organizations given its increased frequency, sophistication, and potential severity.
Indeed, the average ransom demand rose to $20 million in 2023 from $1.4 million, while the average payment made was $6.5 million, reflecting the effectiveness of ransomware negotiations, Marsh notes in the report.
Only 23% of its clients affected by cyber extortion in 2023 paid ransom. Most (77%) refused, reflecting a growing trend. In 2021, only 37% of Marsh’s clients rejected cybercriminals’ demands.
The State Service of Ukraine for Food Safety and Consumer Protection and the Ministry of Foreign Affairs of Ukraine have agreed on veterinary certificates with the competent authorities of Canada, so that Ukrainian egg producers will be able to export their products to Canada, the ministry’s press service reports.
“The systematic work of the Ministry of Foreign Affairs of Ukraine together with the State Service of Ukraine for Food Safety and Consumer Protection allows us to continue to open up new opportunities for Ukrainian products in the world. We realize how important it is to support Ukrainian exporters, especially during the war. That is why we are in constant negotiations with foreign partners in this regard and step by step we are opening new markets for Ukrainian companies,” said Foreign Minister Dmytro Kuleba.
“The new market means economic stability for the national producer, preservation of jobs, especially during the war, and strengthening Ukraine’s competitiveness on the global trade arena.
Together with Ukrainian diplomats, we continue to work in this direction,” said Serhiy Tkachuk, Head of the State Service of Ukraine for Food Safety and Consumer Protection.
The agency informed that the certificate forms have already been published on its official web portal in the “Export Certificates from Ukraine” section of the “International Cooperation” section. Explanations of the requirements of Canadian legislation are available in the section “Requirements of the countries of the world”.
“Exports of egg products to Canada are possible only if you cooperate with licensed importers in Canada,” the State Service of Ukraine on Food Safety and Consumer Protection warned.
Canada has extended for another year – until June 9, 2025 – the exemption of Ukrainian goods from customs duties, the relevant customs notice is published on the website of the Canadian government.
“We are sincerely grateful to our Canadian partners for supporting the Ukrainian economy by increasing exports and temporarily eliminating customs duties and trade fees on imports from Ukraine. This is an invaluable contribution to our resilience,” First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko commented on the decision in a tweet.
This decision ensures the continuation of duty-free imports of Ukrainian products to Canada, which began on June 9, 2022.
According to the State Statistics Service, exports of goods from Ukraine to Canada in the first quarter of 2024 increased by almost 2.7 times to $47.43 million, while imports decreased by 43.9% to $45.42 million.
Overall, exports of goods from Ukraine in the first quarter of this year decreased by 2.8% to $10 billion 60.85 million, while imports increased by 1.7% to $15 billion 751.91 million.
Ukraine has received a CAD2 billion loan from Canada, Prime Minister Denys Shmyhal said on social media site X on Wednesday evening.
“Ukraine has received CAD2 billion from Canada. Vital funds for our resilience… This is a significant investment in global security and peace,” the head of the Ukrainian government said.
“Canada is a reliable partner of Ukraine that supports us in difficult times. Today we have received USD 1.5 billion from Canada. Since February 2022, budgetary assistance has reached USD $5.1 billion,” wrote Finance Minister Sergii Marchenko.
Shmyhal and Marchenko thanked the people and government of Canada for their support of Ukraine.
The Ministry of Finance clarified that the financial assistance was received under the third supplemental agreement, which is a continuation of the original agreement signed on August 8, 2022. The additional loan is provided for a period of 10 years, with an interest rate of 1.5% per annum. The grace period is 4.5 years from the date of disbursement.
As reported, on Wednesday, the state budget of Ukraine received the first tranche of EUR 4.5 billion from the EU under the Ukraine Facility program, while before that, all external revenues amounted to only $1.2 billion since the beginning of the year.
According to the National Bank’s forecasts, Ukraine may receive external financing worth $10 billion or even more between mid-March and the end of April, against the $37.3 billion required in the state budget for the whole year.
