Canada lends Ukraine $500 mln following bond sale

Individual Canadians bought $50 million worth of the bonds since they were issued Nov. 29, it added. The loan comes as Moscow has ramped up its attacks against Ukraine after its invasion in February, firing scores of missiles and targeting critical infrastructure as winter looms.

Canada is loaning Ukraine $500 million following the sale of Canadian bonds allowing individuals and other entities to support Kyiv, Canada's Finance Department said on Friday, marking $2.45 billion in dispersed loans so far.

The loan, transferred through the International Monetary Fund (IMF), follows the sale of bonds costing $100 or more to Canadians, investors, institutions and other buyers, the government said in a statement. Individual Canadians bought $50 million worth of the bonds since they were issued Nov. 29, it added.

The loan comes as Moscow has ramped up its attacks

against Ukraine after its invasion in February, firing scores of missiles and targeting critical infrastructure as winter looms. Backing Ukraine, "means ensuring the Ukrainian government has the resources it needs to keep providing essential services to Ukrainians this winter," Canadian Deputy Prime Minister and Minister of Finance Chrystia Freeland said, adding that she hopes other countries will be inspired to offer such bonds.

Ottawa's sale of its Ukraine Sovereignty Bond was the world’s first bond dedicated to Ukraine, according to the government.

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