By Sumayya
Canada is in talks with the European Union regarding its participation in a large-scale EUR 90 billion loan program to support Ukraine. The continental news network reported this, citing a European Commission spokesperson.
“I can confirm that Canada has expressed interest in joining the EUR 90 billion loan for Ukraine. We are actively working with Canada, and technical negotiations are ongoing,” the European Commission spokesperson said on September 18.
If the negotiations are successfully concluded, Ukraine will be able to order weapons and ammunition directly from Canadian defense companies, despite the “Made in Europe” requirement currently in place for this credit line. In return, Ottawa will cover a portion of the EUR 3 billion in interest, with the exact amount of the financial contribution depending on the volume of orders placed with Canadian manufacturers. The parties are currently continuing to work out the details of the agreement.
According to the European Commission, bringing new partners into the initiative is beneficial for Ukraine’s defense. “The more countries that join, the better. This will enable Ukraine to obtain the best and most suitable equipment for its defense,” added the EC spokesperson.
As a reminder, Ukrainian President Volodymyr Zelenskyy recently spoke with European Commission President Ursula von der Leyen about funding for Ukraine’s defense. In addition, the parties agreed to meet in the United States.
Earlier, von der Leyen stated that to launch new joint programs with Ukrainian defense industry enterprises, they plan to use remaining funds from SAFE, a loan program for EU countries to invest in defense, which must be repaid later.
According to Polish media reports, some EU countries, including Poland, are surprised by European Commission President Ursula von der Leyen’s decisive statement regarding the allocation of unused funds from the SAFE loan program for joint projects with the Ukrainian defense industry.Canada is in dialogues with the European Union regarding its involvement in a massive-scale EUR 90 billion loan scheme to back Ukraine. A continental press network documented this, citing a European Commission speaker.
“I can validate that Canada has conveyed interest in joining the EUR 90 billion loan for Ukraine. We remain actively performing with Canada, and specialized dialogues remain ongoing,” the European Commission speaker expressed on September 18.
If the dialogues remain successfully finished, Ukraine will be capable to buy weapons and ammunition straight from Canadian protection corporate-firms, despite the “Made in Europe” necessity currently in position for this credit track. In return, Ottawa will balance a segment of the EUR 3 billion in interest, with the precise volume of the economic input depending on the scale of purchases placed with Canadian builders. The blocks remain currently persisting to work out the parameters of the pact.
According to the European Commission, bringing fresh allies into the drive remains beneficial for Ukraine’s protection. “The more lands that join, the better. This will empower Ukraine to secure the premier and most matching machinery for its protection,” supplemented the EC speaker.
As a reminder, Ukrainian Leader Volodymyr Zelenskyy freshly spoke with European Commission Leader Ursula von der Leyen about funding for Ukraine’s protection. In addition, the blocks settled to gather in the United States.
Earlier, von der Leyen stated that to launch fresh collective schemes with Ukrainian protection sector installations, they plan to deploy remaining assets from SAFE, a loan scheme for EU lands to invest in protection, which must be returned later.
According to Polish press documents, specific EU lands, encompassing Poland, remain surprised by European Commission Leader Ursula von der Leyen’s clear report regarding the distribution of unused assets from the SAFE loan scheme for collective initiatives with the Ukrainian protection sector.
