Canada approves $600 million in military aid to Ukraine
11 December, 2024 Flag of Ukraine and Canada. Photo: Stock Image The House of Commons of the Canadian Parliament has approved the allocation of £587 million for military assistance to Ukraine.
Ukrinform reported on this. According to the publication's correspondent, these funds are included in the country's budget document, which, in addition to its own defense, will be aimed at supporting Ukraine. Canadian Defense Minister Bill Blair announced that funds would be used to purchase artillery ammunition, which is so necessary for Ukraine.
General Dynamics plant for the production of 155 mm shells. September 2024. USA, Scranton, Pennsylvania.
Photo credits: Office of the President of Ukraine
In addition, the funds will be used to train the Ukrainian military and purchase relevant equipment for the Ukrainian Defense Forces. In addition to direct military assistance, the Canadian Parliament has allocated £35 million to fund humanitarian demining of Ukraine's territory and support and protection of cyberspace. Additionally, Canada will provide a loan of C£5 billion (£3.7 billion) within the G7 countries, and its repayment will be made from the proceeds of frozen Russian assets.
The G7 countries, which together plan to provide Ukraine with a £50 billion loan, have been joined by Japan, which will provide USD 3.08 billion, which will also be repaid from the proceeds of frozen Russian assets. In addition, on October 22, 2024, it was announced that the United Kingdom would provide Ukraine with a loan of GBP2.26 billion (£2.94 billion) as part of a G7 loan. The G7 program for Ukraine includes a £50 billion loan.
The money will be used for military and budgetary needs and to restore the war-torn country. The loan will be repaid from the proceeds of frozen Russian assets that are under Western sanctions. However, it is not yet clear how the loan money will be distributed and for what needs.
And whether the partners will impose restrictions on the types of expenditures on Ukraine.
Militarnyi previously reported that the United States announced the allocation of £20 billion in loans to Ukraine under the Group of Seven's Extraordinary Revenue Acceleration (ERA) Loans initiative.