The Bank of Canada is issuing a new five-year $500 million bond that will enable Canadians to directly support Ukraine.
The bond, called the “Ukraine Sovereignty Bond,” will be denominated in Canadian dollars.
The central bank said it plans to issue the bond by the end of November.
Canadian investors will be able to buy the bond in denominations of $100 through most banks and other participating financial institutions.
Proceeds from the bond sale will be transferred to Ukraine in the form of a loan through the International Monetary Fund’s (IMF) Administered Account, the Bank of Canada said in a news release.
This is the first bond that’s being issued in Canada specifically to provide financial aid to Ukraine following Russia’s invasion of the country this past February.
