Prime Minister Mark Carney is committing nearly $800m to a European loan for Ukraine, but Canadians are being left in the dark about who is actually paying and what it will cost us.
Carney announced on Friday at the summit with EU leaders in Montreal that Canada intends to join in the EU’s €90 billion Ukraine Support Loan with an initial contribution of €500 million (C$775 million).
“Actually, 500 million euros will be our initial participation,” Carney said during the October 30 press conference.
But whilst Carney put a price on Canada’s proposed participation, the government’s joint statement simply confirmed its intention to join the program.
No signed agreement, payment schedule or fund transfer has been publicly confirmed, and Ottawa has yet to disclose whether the contribution would be a payment, loan or guarantee.
