Proceeds from the bonds will be channeled by the Government of Canada to aid Ukraine through a special account administered by the International Monetary Fund.
Canadian Prime Minister Justin Trudeau announced the launch of the Government of Canada’s “Ukraine Sovereignty Bonds”, aimed at supporting the financing of Ukraine’s war with Russia. On Friday, October 28, European Truth reports.
The term of the bonds is five years, and the Canadian government will send the proceeds from them to help Ukraine through a special account managed by the International Monetary Fund. Funds from that will be spent on necessities such as paying pensions and buying fuel in anticipation of winter.
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In addition, Canada is separately providing $55 million in previously announced international humanitarian funding to support initiatives to prepare Ukraine for winter – providing shelter and distributing essential items such as blankets, clothing, heating equipment and fuel.
The President of Ukraine also mentioned it in his speech.
“I want to thank Canada today – our long-time and sincere partners. For the unprecedented act of issuing Canadian sovereign bonds, all proceeds from its placement will be used to help Ukraine. The volume is half a billion dollars. And these bonds will be available for investment not only in Canada, but both in Canada and around the world. This is a very strong example for all our partners. Canada is the first country that offers such a support tool,” Zelensky said.
According to official data, by 2022 Canada has allocated two billion dollars of financial aid to Ukraine. Nearly $1.5 billion more is earmarked for military aid, and $320 million for humanitarian aid and immigration efforts.
Recall that since the beginning of the year, 105,000 citizens of Ukraine have arrived in Canada. About 15% of them entered the country from the United States.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.