On 29 November, the Government of Canada successfully completed the issuance of a five-year 500 million CAD ($373 USD, – Ed.) Ukraine Sovereignty Bond, first announced last month by the country’s Prime Minister, Canada’s finance ministry reports. The funds are going to assist the Ukrainian government “so it can continue to provide essential services to Ukrainians this winter, such as pensions, the purchasing of fuel, and restoring energy infrastructure.”
“The investor base for the Ukraine Sovereignty Bond is primarily Canadian, with nearly $50 million in demand from individual Canadians. Overall it includes a broad range of domestic and international institutional investors, different orders of government, and international official sector institutions like central banks,” the Canadian finance ministry wrote.
According to the report, an amount equal to the proceeds from the bond will be transferred to Ukraine as a loan through the International Monetary Fund (IMF) Administered Account for Ukraine.
The ministry says that the Ukraine Sovereignty Bond is in addition to the Government of Canada’s $2 billion CAD in direct financial assistance to Ukraine so far in 2022, all of which has already been disbursed. Also, Canada has separately committed more than $2.5 billion in military, humanitarian, and other assistance to Ukraine this year.