Ukraine has received the first installment of 2.5 billion Canadian dollars (approximately $1.7 billion) from Ottawa under the G7's Extraordinary Revenue Acceleration (ERA) initiative, the Ukrainian Finance Ministry announced on March 13.
The $50 billion ERA mechanism provides loans to Ukraine, which will be repaid using future profits from frozen Russian assets.
According to the Ukrainian Finance Ministry, Canada’s contribution to the initiative amounts to $3.5 billion, with the loan set to be issued for a 30-year term.
"Canada is a reliable and steadfast partner of Ukraine. I am grateful for its support of the ERA mechanism—it is a fair and necessary tool to hold Russia financially accountable for its crimes in Ukraine," said Ukrainian Finance Minister Serhii Marchenko.
Since Russia's full-scale invasion in 2022, G7 countries have frozen approximately $300 billion in Russian sovereign assets.
The ERA initiative, primarily supported by the U.S. and the EU, seeks to utilize profits from these frozen assets to fund Ukraine's defense and reconstruction efforts.
Alongside Canada's contribution, Kyiv has also received £752 million ($970 million) as the first installment of the U.K.'s contribution to the G7 loan, Prime Minister Denys Shmyhal announced on March 7.
Ukrainian President Volodymyr Zelenskyy on Tuesday stated his readiness to negotiate with Russia “in any format” once a ceasefire takes effect. Meanwhile, Russian President Vladimir Putin has reportedly proposed halting his invasion at the current front lines, according to the Financial Times.
A Russian airstrike on Zaporizhzhia killed one woman and injured 23 people, including two children, on Tuesday. Guided bombs struck residential areas, as drone attacks also hit Kherson and Kharkiv, Ukrainian officials said.
Azerbaijan and Ukraine have reaffirmed their commitment to strengthening cooperation in social protection and rehabilitation, as officials from both countries highlighted expanding ties and shared efforts to support war-affected communities and advance social reforms.
Russia has reported the capture of Sukha Balka in Ukraine’s Donetsk region, a contested area that continues to see active fighting amid shifting frontlines.
A mass overnight drone attack by Russian forces struck residential areas of Ukraine’s southern port city of Odesa, setting homes ablaze and damaging buildings in a densely populated neighbourhood, Ukrainian officials said on Tuesday.
Ukraine is ready to negotiate but not to surrender, Ukraine's Deputy Prime Minister Yuliia Svyrydenko said on Wednesday as details emerged in media reports of a U.S. proposal for a deal which would see Ukraine give up almost all territory currently occupied by Russia.
The chief architect of China's lunar exploration programme has accused Washington of interfering in Beijing's space diplomacy efforts with international partners.
A powerful earthquake of magnitude 6.2 has struck Türkiye, with its epicenter located in the Silivri district of Istanbul, according to the country’s disaster management agency, AFAD.
On April 23, a ceremony for the signing of documents between Azerbaijan and China was held in Beijing, with the participation of Ilham Aliyev, President of the Republic of Azerbaijan, and Xi Jinping, President of the People’s Republic of China.
Beijing has criticized Washington's pressure tactics, warning that threats and coercion are not conducive to resolving trade tensions between the two countries.
The Holy Fire ceremony stands as one of Christianity's most enduring and mysterious rituals, drawing thousands of pilgrims to Jerusalem each year.
Pope Francis's relationship with Azerbaijan has evolved significantly over the years, characterized by diplomatic exchanges, promotion of religious tolerance, and peace advocacy in the Caucasus region.
Severe rainfall on April 17 led to flooding and landslides in the Piedmont region, prompting a large-scale emergency response from over 400 firefighters.
China has rolled out the world’s first 10-gigabit (10G) fixed broadband network in Xiong'an New Area, promising ultra-fast speeds and low latency through cutting-edge optical infrastructure.
Pope Francis, the first Latin American pope and a transformative figure in the Roman Catholic Church, has passed away at the age of 88, the Vatican confirmed in a video statement on Monday.
Ukraine is ready to negotiate but not to surrender, Ukraine's Deputy Prime Minister Yuliia Svyrydenko said on Wednesday as details emerged in media reports of a U.S. proposal for a deal which would see Ukraine give up almost all territory currently occupied by Russia.
The chief architect of China's lunar exploration programme has accused Washington of interfering in Beijing's space diplomacy efforts with international partners.
On April 23, a ceremony for the signing of documents between Azerbaijan and China was held in Beijing, with the participation of Ilham Aliyev, President of the Republic of Azerbaijan, and Xi Jinping, President of the People’s Republic of China.
Beijing has criticized Washington's pressure tactics, warning that threats and coercion are not conducive to resolving trade tensions between the two countries.
The “Joint Statement on the Establishment of a Comprehensive Strategic Partnership between the Republic of Azerbaijan and the People’s Republic of China” was signed in Beijing on April 23 during the state visit of President of the Republic of Azerbaijan Ilham Aliyev to China.
Ukraine is ready to negotiate but not to surrender, Ukraine's Deputy Prime Minister Yuliia Svyrydenko said on Wednesday as details emerged in media reports of a U.S. proposal for a deal which would see Ukraine give up almost all territory currently occupied by Russia.
The chief architect of China's lunar exploration programme has accused Washington of interfering in Beijing's space diplomacy efforts with international partners.
A powerful earthquake of magnitude 6.2 has struck Türkiye, with its epicenter located in the Silivri district of Istanbul, according to the country’s disaster management agency, AFAD.
On April 23, a ceremony for the signing of documents between Azerbaijan and China was held in Beijing, with the participation of Ilham Aliyev, President of the Republic of Azerbaijan, and Xi Jinping, President of the People’s Republic of China.
Beijing has criticized Washington's pressure tactics, warning that threats and coercion are not conducive to resolving trade tensions between the two countries.
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