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Canada loaning Ukraine $120 million as tensions with Russia escalate

CA, 22 Jan 2022
Prime Minister Justin Trudeau announced on Friday that the Canadian government is loaning up to $120 million (CAD) to the Ukrainian government amid the ongoing crisis with neighbouring Russia.

Trudeau made the announcement just hours after the United States met with Russia to lower the temperature on the Ukrainian standoff.

“Russia is aiming to destabilize Ukraine, including economically. This loan will help support Ukraine’s economic resilience,” he said.

“We have always been a friend to Ukraine; we will always be there with the necessary supports."

With an estimated 100,000 Russian troops massed near Ukraine, many nations fear Moscow is preparing an invasion, although Russia denies that. The U.S., Canada and its allies are working to present a united front to prevent that or co-ordinate a tough response if they can’t.

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