Monday 20 November 2017

Canada to offer Ukraine C$220m in economic aid

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.

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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