Canada has finalised further emergency support to Ukraine to help fund its defence from the ongoing invasion by Russia.
Canada’s Finance Department announced the sale of Canadian bonds had allowed individuals and other entities to support Ukraine, and that it had dispersed in total $2.45 billion in assistance to date.
The C$500 million in assistance, transferred through the International Monetary Fund (IMF), follows the sale of bonds costing $100 or more to Canadians, investors, institutions and other buyers.
Individual Canadians had bought $50 million worth of the bonds since they were issued on November 29.
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Canadian Deputy Prime Minister and Minister of Finance Chrystia Freeland said that backing Ukraine “means ensuring the Ukrainian government has the resources it needs to keep providing essential services to Ukrainians this winter.”
The Ukraine Sovereignty Bond was the world’s first bond dedicated to Ukraine, according to a government statement.
The Government of Canada said that Canadians who participate in the Ukraine Sovereignty Bond are, in effect, purchasing a regular five-year Government of Canada bond at a 3.245 per cent rate of return. To provide investors with confidence about the safety of their funds, the Ukraine Sovereignty Bond is likewise backed by Canada’s AAA credit rating.
Finance Canada said a combination of Canadian and foreign investors snapped up the bonds between November 22-29. That includes $50 million purchased by individual Canadians, though a full breakdown was not provided.
