Canada is in talks with the European Union to join the €90 billion EU loan to support Ukraine, which is planned for 2026 and 2027.
This was stated by European Commission spokesman Balazs Ujvari, Euronews reports.
Relevant technical negotiations are currently underway with Canada. If the country is included in this program, Ukraine will be able to purchase weapons and ammunition from Canadian defense companies, bypassing the "Made in Europe" requirement that applies to this loan.
At the same time, the country will have to pay €3 billion in interest payments, depending on how much its companies take advantage of the program. The specific terms of Canadaʼs contribution are still being negotiated.
In July, the European Union approved the UKʼs participation in the program. It became possible because the country meets three main requirements: it helps cover the costs of the loan, has entered into a security and defense partnership with the EU, and is already providing financial and military support to Ukraine.
- Of the €90 billion loan, €60 billion will be allocated to military aid, the rest to budget support. Of this amount, €28.3 billion is earmarked for defense and €16.7 billion for budget support by 2026. The loan will be repaid with proceeds from frozen Russian assets in European banks.
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