CBC: Canada to extend a $1.7 billion loan to Ukraine

Canada will extend a $2.4 billion Canadian dollars ($1.7 billion US) loan to Ukraine in the coming budget year to help prop up Ukraine's finances.

The measure is identified in the latest federal budget, tabled in Parliament on March 28 by Finance Minister Chrystia Freeland.

The new loan for Ukraine will be distributed through the International Monetary Fund.

It builds on Canada's previous fiscal supports for Ukraine, CBC reports, intended to offset the economic devastation brought by Russia's full-scale invasion.

Ukraine has received $5.4 billion (almost $4 billion US) in Canadian aid so far, including more than $1 billion ($735 million US) in military aid — both direct donations and equipment purchased for the Ukrainian military.

The budget also earmarks $200 million for military equipment and donations. Canadian officials acknowledge that most of that money has been spent already; the sum includes the recent donation of modern tanks.