Key facts
- Canada is in discussions to join the EU's 90 billion-euro support loan for Ukraine.
- The EU's Ukraine Support Loan was unveiled in January 2026.
- The loan aims to provide financial aid to Ukraine amid the ongoing war, with funds earmarked for defense.
- The U.K. is the only non-EU country currently participating in the loan.
- Canadian Prime Minister Mark Carney is seeking to strengthen ties with Europe.
- Canada and Ukraine declared a 100-year partnership on September 10, 2026.
Canada is in discussions to join a 90 billion-euro ($105 billion) support loan to Ukraine being provided by the European Union, according to a report by the Financial Times citing sources familiar with the matter. The two parties aim to finalize the amount of Canada's contribution before the upcoming EU-Canada Summit in Montreal in late October. The EU's Ukraine Support Loan, which was unveiled in January 2026, is intended to provide financial assistance to Ukraine amidst the ongoing war, with a significant portion designated for defense. Ukraine received the first tranche of the loan in June. Specifically, 6.1 billion euros ($7.1 billion) of the funds are allocated for air defenses, missiles, ammunition, and radars, as Russian forces continue their attacks on Ukrainian cities amid a shortage of air defense systems. The United Kingdom is currently the sole non-EU nation participating in the loan initiative. Canada's interest in contributing to the loan is part of a broader strategy by Prime Minister Mark Carney to bolster relations with Europe and decrease Canada's reliance on the United States, particularly in light of President Donald Trump's trade disputes with the nation. Carney has also expressed interest in Canada pursuing an "association membership" with the EU. Since Russia's full-scale invasion of Ukraine in 2022, Canada has committed over $8.5 billion in military support and more than $750 million for Ukraine's recovery and reconstruction efforts, according to the Prime Minister's Office. On September 10, 2026, Canada and Ukraine formalized a 100-year partnership, agreeing to enhance cooperation across defense, energy, technology, trade, and reconstruction following discussions between President Volodymyr Zelensky and Prime Minister Carney. During these talks, Carney and Zelensky announced agreements and investment commitments exceeding $2 billion. Earlier, on July 7, Canada had announced over $900 million in new military aid for Ukraine.