The federal government yesterday disclosed it approved another $500 million loan for Ukraine. The announcement came the same day Ukraine confirmed with creditors it suspended payments on its foreign debt..“It is in the national interest to authorize the Minister of Finance to provide Ukraine with financial assistance,” cabinet wrote in an executive order. Ministers agreed to “provide financial assistance to Ukraine up to a maximum $500 million” with funds to be released at a later date..According to Blacklock's Reporter, cabinet earlier authorized $1.4 billion in Ukrainian loans. “Funding provided through this account will help the Ukrainian government meet its urgent balance of payment needs,” the Department of Foreign Affairs said in a statement..Ukraine yesterday confirmed with creditors it would suspend debt payments until December 31, 2023. Its bonded debts owed to foreign creditors prior to the February 24 invasion by Russia totaled US$129.9 billion, according to a World Bank report International Debt Statistics..New loans are in addition to Canada’s pledge of $320 million in wartime foreign aid to Ukraine. Aid prior to the invasion ran to more than a billion..“Canada has been one of Ukraine’s most constant partners, committing over $1.2 billion in international assistance to Ukraine since its independence,” the foreign affairs department wrote in a 2019 briefing note Canada’s International Assistance To Ukraine..Ukraine as late as 2014 was the largest beneficiary of Canadian aid in Europe. “It is not just a matter of writing a blank cheque,” then-Foreign Minister John Baird said at the time..“Canada has a longstanding close relationship with the people of Ukraine,” said Baird. “I believe all Canadians, including everyone in this House, are united in our commitment to a free, independent and democratic Ukraine.”.Aid included loan guarantees, technical assistance to the Bank of Ukraine, funding for Ukrainian co-operatives and farm aid. “It’s not a contest to see how quickly you can, you know, flow money into Kyiv,” said Baird. “The economic advisers of the International Monetary Fund are on the ground.”.Canada is home to 1.2 million people of Ukrainian descent, according to Census data, outnumbering Dutch-Canadians (one million); Scandinavians (one million); and Canadians of Caribbean origin (579,000)..Statistics Canada also calculated two third of Ukrainian-Canadians, 66%, speak their mother tongue regardless of whether they were born here. It is one of the highest language retention rates of any community compared to Chinese-Canadians (70%), Germans (43%), Italian-Canadians (20%) and Tagalog-speaking Filipinos (15%).
The federal government yesterday disclosed it approved another $500 million loan for Ukraine. The announcement came the same day Ukraine confirmed with creditors it suspended payments on its foreign debt..“It is in the national interest to authorize the Minister of Finance to provide Ukraine with financial assistance,” cabinet wrote in an executive order. Ministers agreed to “provide financial assistance to Ukraine up to a maximum $500 million” with funds to be released at a later date..According to Blacklock's Reporter, cabinet earlier authorized $1.4 billion in Ukrainian loans. “Funding provided through this account will help the Ukrainian government meet its urgent balance of payment needs,” the Department of Foreign Affairs said in a statement..Ukraine yesterday confirmed with creditors it would suspend debt payments until December 31, 2023. Its bonded debts owed to foreign creditors prior to the February 24 invasion by Russia totaled US$129.9 billion, according to a World Bank report International Debt Statistics..New loans are in addition to Canada’s pledge of $320 million in wartime foreign aid to Ukraine. Aid prior to the invasion ran to more than a billion..“Canada has been one of Ukraine’s most constant partners, committing over $1.2 billion in international assistance to Ukraine since its independence,” the foreign affairs department wrote in a 2019 briefing note Canada’s International Assistance To Ukraine..Ukraine as late as 2014 was the largest beneficiary of Canadian aid in Europe. “It is not just a matter of writing a blank cheque,” then-Foreign Minister John Baird said at the time..“Canada has a longstanding close relationship with the people of Ukraine,” said Baird. “I believe all Canadians, including everyone in this House, are united in our commitment to a free, independent and democratic Ukraine.”.Aid included loan guarantees, technical assistance to the Bank of Ukraine, funding for Ukrainian co-operatives and farm aid. “It’s not a contest to see how quickly you can, you know, flow money into Kyiv,” said Baird. “The economic advisers of the International Monetary Fund are on the ground.”.Canada is home to 1.2 million people of Ukrainian descent, according to Census data, outnumbering Dutch-Canadians (one million); Scandinavians (one million); and Canadians of Caribbean origin (579,000)..Statistics Canada also calculated two third of Ukrainian-Canadians, 66%, speak their mother tongue regardless of whether they were born here. It is one of the highest language retention rates of any community compared to Chinese-Canadians (70%), Germans (43%), Italian-Canadians (20%) and Tagalog-speaking Filipinos (15%).
