Carney Commits Additional $2.5 Billion to Ukraine During Zelenskyy’s Visit

Prime Minister Mark Carney announced a significant increase in financial aid for Ukraine during a brief meeting with President Volodymyr Zelenskyy in Halifax on December 27, 2025. Carney pledged an additional $2.5 billion in economic assistance aimed at facilitating Ukraine’s access to crucial international financing amidst ongoing conflict. This announcement comes as Zelenskyy stopped in Canada en route to peace talks with U.S. President Donald Trump scheduled for the following day.

The meeting occurred shortly after a wave of Russian airstrikes in Kyiv, which resulted in at least one fatality and numerous injuries. Carney condemned these attacks as “barbarism,” emphasizing the urgent need for international support for Ukraine to achieve a “just and lasting peace.”

Carney outlined that the newly pledged funding will help unlock an estimated $8.4 billion from the International Monetary Fund (IMF) through an extended financing program. Additionally, the financial aid will provide a loan guarantee of up to $1.3 billion from the World Bank and a guarantee of up to $322 million from the European Bank for Reconstruction and Development to bolster energy security.

“Canada has committed new support to Ukraine, not only to help end this war but also to help the Ukrainian people recover and rebuild,” Carney stated in a press release. He highlighted that Canada stands firmly with Ukraine, as their fight for “freedom, democracy, and sovereignty” aligns with Canada’s values.

According to data from the Kiel Institute, Canada has contributed approximately $13.5 billion in financial aid to Ukraine, making it the third-largest donor globally after the United States and the European Union. In terms of GDP percentage, Canada leads among donor nations. Earlier this year, during the G7 Summit in Alberta, Carney unveiled a $2 billion aid package specifically for military purchases, with total military assistance now exceeding $7 billion.

Zelenskyy expressed gratitude for Canada’s support during their meeting, noting that the latest round of Russian strikes, which involved over 500 drones and 40 missiles, including hypersonic weapons, demonstrated Russia’s unwillingness to seek peace. He remarked, “It really shows that Vladimir Putin doesn’t want peace, and we want peace.”

Following their bilateral discussions, Carney and Zelenskyy participated in a video call with European leaders to discuss the ongoing U.S.-backed peace plan aimed at resolving Russia’s nearly four-year invasion of Ukraine. Carney emphasized the potential for a just and lasting peace, stating, “But that requires a willing Russia.”

This meeting in Halifax followed a phone conversation between the two leaders on Boxing Day, during which Carney praised Zelenskyy’s steadfast commitment to peace efforts and acknowledged the bravery of the Ukrainian people. As the international community continues to rally behind Ukraine, the support from Canada represents a critical step towards stability and reconstruction in the war-torn nation.