Canada became the first country to support the use of fixed assets in favor of the Ukrainian economy.
Canada will allocate 5 billion Canadian dollars (about $3.7 billion) to Ukraine as part of the G7 Emergency Revenue Acceleration (ERA) initiative for Ukraine. These funds come from Russia’s fixed assets and will be used to support Ukraine during the war. Prime Minister Denis Shmygal announced this on Monday, November 4.
The decision was made after the recent G7 summit, where the countries agreed to provide financial support for Ukraine at the expense of frozen assets of the Russian Federation.
Shmygal expressed gratitude to Canadian Prime Minister Justin Trudeau and Deputy Prime Minister Chrystia Freeland for their consistent support to Ukraine.
He noted that Canada became the first country to support the use of fixed assets in favor of the Ukrainian economy.
The initiative, launched in June 2023, provides total funding of $50 billion for Ukraine from the G7 countries.
After agreeing on the details on October 25 in Washington, all countries decided on their contributions. In addition to Canada, the US contributed $20 billion, the EU 18.115 billion euros (approximately $20 billion), Japan 471.9 billion yen (approximately $3.1 billion), and the UK 2.26 billion pounds sterling (approximately $3 billion).
We remind you that Canada sent the first NASAMS air defense system ordered for Ukraine.
Earlier it became known that the UK will give Ukraine a loan in the amount of 2.26 billion pounds sterling (about 2.93 billion dollars) from the income from Russian fixed assets.
Source: korrespondent
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