Prime Minister Carney announces new support for a just and lasting peace in Ukraine

Press Release

Today, Prime Minister Carney welcomed President Zelenskyy to Halifax, marking the President’s second visit to Canada this year. Ukraine is at the frontline of the struggle between democracy and authoritarianism. Their meeting comes at a crucial point in this horrific war – a time when the combined efforts and might of the United States, Ukraine, European allies, and Canada are creating the conditions for a just and lasting peace.

Since Russia’s unprovoked, unjustified, full-scale invasion, Canada has provided nearly $22 billion in multifaceted assistance for Ukraine, including over $12 billion in direct financial support – making Canada among the largest contributors to Ukraine’s recovery and reconstruction. As the Ukrainian people endure another winter of Russian aggression, Canada remains steadfast in its support for Ukraine.

Building on Canada’s strong support for Ukraine, the Prime Minister today announced new measures to support a just and lasting peace. Canada is announcing an additional $2.5 billion commitment for Ukraine, including:

• Financing that will enable the International Monetary Fund to lend Ukraine an additional $8.4 billion as part of an extended financing program;

• Canada’s participation in extended and expanded debt service suspension for Ukraine, for up to $1.5 billion in 2025-26;

• A loan guarantee of up to $1.3 billion in 2026 to the World Bank’s International Bank for Reconstruction and Development to support Ukraine’s reconstruction; and

• A loan guarantee of up to $322 million in 2026 to the European Bank for Reconstruction and Development to support Ukraine’s gas imports and reinforce its energy security.

In Halifax, Prime Minister Carney and President Zelenskyy held a bilateral meeting to discuss the latest developments in ongoing peace talks. The Prime Minister affirmed Canada’s full support for Ukraine.

The Prime Minister and the President also participated in a call with European leaders to advance joint efforts for Ukraine’s security and recovery. Through the Coalition of the Willing and other partnerships, Canada is working to secure a just and lasting peace that reunites children with their families, fortifies Ukraine’s forces, builds prosperity for the Ukrainian people, and deters Russia from ever again threatening the peace and security of Ukraine or Europe.

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Quote

“When I stood with President Zelenskyy in Kyiv on Ukraine’s Independence Day this year, I made clear that Canada will stand with Ukraine throughout this horrific war and when peace finally comes. To those ends, Canada has committed new support to Ukraine, not only to help end this war, but also to help the Ukrainian people recover and rebuild. Canada stands with Ukraine, because their cause – freedom, democracy, sovereignty – is our cause.”

The Rt. Hon. Mark Carney, Prime Minister of Canada

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Quick facts

• Earlier this month, Canada announced a $200 million package of critical military capabilities sourced from the NATO Prioritised Ukraine Requirements List (PURL) to support Ukraine’s defence.

• Through Budget 2025, Canada also announced $35 million in funding for NATO’s Comprehensive Assistance Package (CAP) for Ukraine.

• Also this month, Canada announced an additional $50 million donation to the Drone Capability Coalition (DCC) at the 32nd Ukraine Defense Contact Group (UDCG) meeting. This built on previous contributions of $37 million to explore ways to expand contributions toward Canada’s support for Ukraine’s Unmanned Systems Forces.

• Canada is among the largest contributors to Ukraine’s recovery and reconstruction, providing nearly $22 billion in multifaceted assistance for Ukraine and over $12 billion in direct financial support since Russia’s full-scale invasion.