Ministry of Finance: Canada Launched Ukraine Sovereignty Bond

2K6EPCN Prime Minster Justin Trudeau delivers remarks during a Liberal fundraising event in Brampton, Ont., on, Thursday, October 13, 2022. THE CANADIAN PRESS/ Tijana Martin

 The government of Canada launched a five-year Ukraine Sovereignty Bond in the amount of CAD 500 million to support Ukraine this difficult winter.  

The funds will be used for priority budgetary needs of Ukraine, including the financing of social expenditures and the recovery of critical infrastructure.

“I am grateful to the Government of Canada for this decision, and personally to the Deputy Prime Minister and Minister of Finance of Canada Chrystia Freeland for her leadership in this process. The issuance of bonds in favor of Ukraine is an extremely crucial support during the barbaric actions of russia destroying our energy infrastructure”, said Minister of Finance of Ukraine Sergii Marchenko. 

After the bond issuance is concluded, CAD 500 million will be directed to Ukraine through the account of the International Monetary Fund.

Minister of National Defence Anita Anand said that the money is part of more than $1 billion in military aid that Canada has committed to Ukraine for military equipment as well as for the training of Ukrainian troops. 

“Ukraine’s military has made incredible progress reclaiming ground and Canada’s military contributions have been integral in their counter-offensive to date,” she said in a statement. 

“The $500 million in new military aid announced today will ensure that we continue to meet Ukraine’s military momentum with the military aid that it needs to fight and win.”

The Prime Minister’s Office said that so far, Canada has committed $3.4 billion in assistance to Ukraine since February.