March 13, 2014 / 8:21 PM / 4 years ago

Canada to offer Ukraine C$220 million in economic aid

OTTAWA, March 13 (Reuters) - Canada will offer C$220 million ($198 million) in aid to Ukraine to help promote sustainable economic growth and good governance, Foreign Minister John Baird said on Thursday.

He told reporters that C$200 million would be in the form of a loan or a loan guarantee based on a broader package that included support from the International Monetary Fund.

“It’s not just a matter of writing a blank check: obviously the IMF is going to want to negotiate some pretty strict conditions and obviously Canada will take a strong role in ensuring any financial resources (have) the appropriate safeguards,” he said.

Canada’s Conservative government has spoken out strongly against Russian action in Ukraine, imposing a travel ban on the people it blames for the crisis and freezing the assets of those close to former Ukrainian President Viktor Yanukovich.

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