Canada disbursing 1st tranche of its G7 loan contribution for Ukraine

Canada is disbursing the first installment of 5 billion Canadian dollars ($3.5 billion) it contributed to the G7's $50 billion loan for Ukraine, Canadian Prime Minister Justin Trudeau announced on Feb. 24.

The G7 loan, shouldered mainly by the U.S. and the EU, will be repaid by proceeds from roughly $300 billion in Russian assets held in Western bank accounts. The Canadian prime minister did not specify the sum of the first installment.

Speaking at the Support Ukraine summit in Kyiv, Trudeau also announced new military support for the besieged country.

This assistance will include 25 LAV III infantry fighting vehicles, two combat support vehicles, and four F-16 flight simulators, provided "on top of million rounds of ammunition, components for drone cameras, and first aid kits," Trudeau said.

Since the outbreak of the full-scale war, Canada has allocated 4.5 billion Canadian dollars ($3.2 billion) in military assistance to Ukraine, a figure that includes future commitments through 2029.