Canada is going to provide a $1.8 billion loan to Ukraine through the International Monetary Fund (IMF) in budget year 2023, CBC TV channel reported with reference to the country’s draft budget.
“Canada will extend a $2.4 billion Canadian dollars ($1.8 billion) loan to Ukraine in the coming budget year. The measure is contained in the latest federal budget, tabled in Parliament on Tuesday by Finance Minister Chrystia Freeland,” the report said.
The loan for Ukraine will be distributed through the IMF. It is intended to cover the budget deficit and pay for social services, including medical services.
According to the TV channel, separately, the Canadian federal budget also announced CAD 84 million (almost $62 million) in additional direct humanitarian aid for Ukraine in the coming fiscal year – money which will be used for mental health services, the removal of mines and other measures. The money will come out of the existing budget at Global Affairs Canada.
Canadian Defense Minister Anita Anand announced Thursday that Ottawa will deliver four Leopard 2 tanks to Ukraine.
“Defense Minister Anita Anand said Canada will transfer four German-made Leopard 2 tanks to Ukraine in the coming weeks,” the Toronto Star reports.
Canada will transfer spare parts and ammunition along with the equipment, as well as train the Ukrainian military in the use of the tanks. The paper said that Anand allowed for the possibility of additional deliveries of Leopard 2 tanks to Ukraine.
Canada has a total of 112 tanks of this model.
The German authorities decided the previous day to transfer the first batch of 14 Leopard 2 tanks to Ukraine. Berlin will also give its allies permission to deliver Leopard 2 tanks to Ukraine. In addition, on Wednesday, US President Joe Biden announced his decision to send Ukraine 31 M1 Abrams tanks.
Ukrainian producers in December 2022 got the right to export poultry and poultry products to Canada and fish products to Turkey, the website of the State Service of Ukraine for Food Safety and Consumer Protection (Derzhsprodpotrebbezopasluzhba) said on Wednesday.
According to her, the new markets for business are open thanks to the joint work of the department, the Ukrainian Ministry of Foreign Affairs and foreign embassies.
The relevant work to open the Canadian market for Ukrainian poultry meat and meat products began back in 2019, when representatives of the Canadian certification body CFIA conducted an inspection of the state production control system at Ukrainian enterprises. A list of Ukrainian companies that are now allowed to export poultry meat and poultry products to Canada has been added to the CFIA database, and requirements for importing meat products from Ukraine to Canada have been published on the organization’s official web portal.
According to the Service, in December Ukraine also received the right to export fish products to Turkey for export. The form of the relevant certificate has already been posted on the official web portal of the State Service of Ukraine for the Protection of Consumer Rights.
As reported, during the martial law in Ukraine has increased the number of enterprises-producers of products of animal origin, which have the right to export their products to the European Union. Their number increased by 33 (or 8.5%) compared with winter 2021 – up to 418 from 385. The number of Ukrainian exporters of dairy products increased the most – by 11, fish products – by six, snails and products from them – by five.
Canada has transferred 500 million Canadian dollars to the administered account of the International Monetary Fund for Ukraine, and the Netherlands – EUR200 million, IMF Managing Director Kristalina Georgieva said.
“Thank you, Canada, for a new contribution of CAD 500 million to the Administered Account for Ukraine. This is Canada’s third contribution to the account, which supports efforts to help stabilize the Ukrainian economy,” she said on Twitter.
“I am delighted to see another member of the international community joining the efforts to help stabilize the Ukrainian economy using the Administered Account for Ukraine. Thank you, the Netherlands, for your EUR 200 million contribution,” she said.
As reported, Canada is transferring to Ukraine as a loan through the IMF in the amount of CAD500 million received from the issuance of special five-year sovereign bonds in support of Ukraine.
In early July this year, the Netherlands announced its decision to allocate another EUR200 million to Ukraine through the IMF account.
Foreign Minister Melanie Joly has announced that Canada will seize $26 million of Granite Capital Holdings Ltd. owned by Russian oligarch Roman Abramovich, who is under sanctions, and will seek confiscation, the Canadian Foreign Ministry press office said.
This is the first time Canada has used a law that allows the government to confiscate assets belonging to sanctioned individuals, according to the ministry’s website. It is noted that Minister Joly can now apply to the court for confiscation of assets in favor of Canada.
“If confiscated, the proceeds could be used to rebuild Ukraine and compensate the victims of the Putin regime’s illegal and unjustified invasion,” the report said.
Canada was the first G7 country to apply such measures, demonstrating its strong commitment to Ukraine and its reconstruction and calling for accountability for those who profited from and supported President Putin’s regime.
“Putin’s oligarchs are complicit in Russia’s illegal and barbaric invasion of Ukraine. Canada will not be a safe haven for their ill-gotten gains, and today’s statement demonstrates our determination to make the Russian elite pay the price for their support of Putin’s brutal regime. Using Russian assets to rebuild Ukraine is just and appropriate,” said Canadian Deputy Prime Minister and Finance Minister Chrystia Freeland.
Following Russia’s illegal occupation and attempted annexation of Crimea in 2014, Canada imposed sanctions on more than 2,100 individuals and entities. Since February 24, 2022, Canada has imposed sanctions on more than 1,500 additional individuals and entities from Russia, Ukraine and Belarus.
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Canada will provide CAD115 million (about $84.9 million at current exchange rates) to urgently restore Ukraine’s energy system, Canadian Deputy Prime Minister and Finance Minister Chrystia Freeland said.
“As the people of Ukraine continue their heroic resistance, we must all do even more to enable them to endure this struggle. That’s why Canada will provide $115 million from tariff revenues from imports from Russia and Belarus to urgently restore Kiev’s energy system,” she wrote on Twitter.
Canada’s Finance Ministry recalled in a press release Tuesday that on March 2, Canada became the first country to remove most-favoured-nation status for imports from Russia and Belarus, resulting in a 35% tariff on virtually all goods entering Canada from those two countries.
In June, G7 leaders pledged to explore ways to use revenues generated by tariff measures against Russia to help Ukraine. “As the first G7 country to fulfill this commitment, Canada will provide Ukraine with $115 million (Canadian) – the amount of expected tariff revenues from Russian and Belarusian goods – as part of the World Bank’s Re-PoWER Ukraine Project,” the Canadian Treasury said.
It recalled that this fund was recently established to facilitate grants from international partners to restore basic energy services in Ukraine.
Since Russia’s brutal and illegal invasion, Canada has already provided Ukraine with a total of CAD2 billion in direct financial assistance in 2022 and an additional CAD500 million in bonds in support of Ukrainian sovereignty earlier this month. This year, Canada has also provided over CAD2.5 billion in military, humanitarian and other assistance to Ukraine.
