Canada wants to participate in the EU’s €90 billion loan for Ukraine in an effort to strengthen its relationship with Europe

Canada intends to join the European Union’s €90 billion loan program for Ukraine, sources close to the negotiations told the Financial Times. Ottawa and Brussels are trying to determine the size of Canada’s contribution ahead of the EU summit in October, which will take place in Montreal.

If the agreement is concluded, Canada will become the second non-EU country to participate in the financing mechanism for Kyiv, after the United Kingdom. The decision is being pursued by Prime Minister Mark Carney, who is seeking to strengthen alliances among liberal states and demonstrate Canada’s commitment to its allies in Europe amid tensions with the administration of U.S. President Donald Trump.

Canada has already provided Ukraine with approximately $4.7 billion in military support. Last week, Carney and President Volodymyr Zelenskyy agreed on a “century-long partnership.”

The EU loan, approved in April and provided for 2026–2027 through the issuance of European bonds, includes €30 billion for budgetary support and €60 billion for defense. Kyiv received the first tranche, worth €3.2 billion, at the end of June.

Ottawa is also negotiating other agreements with Brussels, including participation in the European supercomputing network and a digital trade pact. The efforts come after the recent failure of trade negotiations with the United States, Canada’s main economic partner.