Canada to Lend $200 Million to Strife-Torn Ukraine
Canada is lending $200 million to Ukraine to boost the strife-torn nation's economy as it battles pro-Russian separatists, Prime Minister Stephen Harper announced Wednesday.
After backing stringent Western-led economic sanctions against Russia over its actions in Ukraine, Harper said Canada now wanted to help stabilize the Ukrainian economy.
The low interest $200 million loan comes after the same amount was lent to Ukraine last September, Harper said.
Sanctions imposed by Canada targeted Russian oil industry interests and banks and the assets of Russian and pro-Russian officials, in parallel to sanctions imposed by the United States and European Union.
The additional Canadian loan comes after a resurgence in violence in eastern Ukraine which included a rocket attack on the strategic port city of Mariupol that killed 30 people at the weekend.
European Union foreign ministers are to consider a new wave of sanctions against Russia when they meet in Brussels Thursday following the latest violence.
The Canadian government said the latest financing would be "conditional on the approval of the next review of Ukraine’s International Monetary Fund (IMF)-supported program."
"As with any financial support provided by Canada, the loan will include necessary safeguards to ensure accountability and transparency with respect to the use of funds," a statement said.
Source: Agence France Presse
| Copyright © 2012 Naharnet.com. All Rights Reserved. | https://cdn.naharnet.com/stories/en/165182 |