World News

Thursday 31 July 2014

Canada to offer Ukraine C$220m in economic aid

Published 13/03/2014|21:11

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Canada's Conservative government has spoken out strongly against Russian action in Ukraine
Canada's Conservative government has spoken out strongly against Russian action in Ukraine

Canada will offer C$220m in aid to Ukraine to help promote sustainable economic growth and good governance, Foreign Minister John Baird said on Thursday.

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He told reporters that C$200m would be in the form of a loan or a loan guarantee based on a broader package that included support from the International Monetary Fund.

"It's not just a matter of writing a blank check: obviously the IMF is going to want to negotiate some pretty strict conditions and obviously Canada will take a strong role in ensuring any financial resources (have) the appropriate safeguards," he said.

Canada's Conservative government has spoken out strongly against Russian action in Ukraine, imposing a travel ban on the people it blames for the crisis and freezing the assets of those close to former Ukrainian President Viktor Yanukovich.

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