Prime Minister Justin Trudeau meets with President of Finland Alexander Stubb
June 17, 2024
Lucerne, Switzerland
Yesterday, Prime Minister Justin Trudeau met with the President of Finland, Alexander Stubb, on the margins of the Summit on Peace in Ukraine, in Switzerland.
Prime Minister Trudeau congratulated President Stubb on his election win and looked forward to working together on priorities shared by Canada and Finland, including fighting climate change, addressing energy insecurity, and building clean economies.
The Prime Minister and the President reiterated their commitment to stand with Ukraine in the face of Russia’s ongoing war of aggression and emphasized the importance of global solidarity in support of a just and sustainable peace. They reaffirmed their unwavering support for President Zelenskyy’s diplomatic efforts toward peace.
The two leaders underlined the importance of ensuring the safety, security, and defence of the Arctic, and in this context, highlighted notable shipbuilding investments between industry leaders in their two countries. They emphasized their commitment to defending Arctic sovereignty and discussed ways that Canada, Finland, and other North Atlantic Treaty Organization (NATO) Allies and partners can work together in defence of NATO’s northern flank.
Prime Minister Trudeau and President Stubb acknowledged the close bilateral relationship between Canada and Finland and agreed to remain in close contact as they advance shared priorities.
Associated Links
- Canada-Finland relations
- Prime Minister to travel to Europe to attend G7 Summit and the Summit on Peace in Ukraine
- Canada’s response to the Russian invasion of Ukraine
- Canada and the North Atlantic Treaty Organization
- Our North, Strong and Free: A Renewed Vision for Canada’s Defence
June 15, 2024
Ottawa, Ontario
The Prime Minister, Justin Trudeau, today issued the following statement on Eid al-Adha:
“Today at sundown, Muslims in Canada and around the world will celebrate Eid al-Adha and mark the end of the Hajj, the annual pilgrimage to Mecca.
“Eid al-Adha is one of the most sacred dates in Islam, commemorating the sacrifice and devotion of the Prophet Ibrahim (Abraham).
“During this time, Muslims across Canada will gather to pray at their local mosques, share meals with loved ones, and provide food to those in need. As Muslim communities celebrate Eid with kindness, selflessness, and charity, let us remember that these values are also Canadian values.
“Celebrations will be sombre this year, as the humanitarian crisis in Gaza continues to unfold. The scale of human suffering in Gaza, including in Rafah, is catastrophic. We reaffirm the need for an immediate ceasefire in Gaza and long-lasting peace in the region.
“Amid the rise in Islamophobia and anti-Arab racism across our communities, we’re standing up against all forms of hate, including through Canada’s Anti-Racism Strategy 2024-2028. With Budget 2024, we’re also increasing funding for the Security Infrastructure Program, protecting communities at risk of hate-motivated crimes.
“Muslim communities have helped build the strong and diverse Canada we know and love, and we will always stand with them.
“On behalf of the Government of Canada, I extend warm wishes to everyone celebrating Eid al-Adha.
“!عيد مبارك
“Eid Mubarak!”
June 14, 2024
Apulia, Italy
Yesterday, Prime Minister Justin Trudeau met with the Chancellor of Germany, Olaf Scholz, on the margins of the G7 Summit in Apulia, Italy.
The Prime Minister and the Chancellor reiterated their unwavering support for Ukraine in the face of Russia’s ongoing, illegal, and unjustifiable aggression. They stressed the importance of G7 unity and global solidarity in supporting a just and sustainable peace in Ukraine and looked forward to participating in the Summit on Peace in Ukraine, to be held on June 15 to 16, 2024, in Switzerland.
As the G7 finalizes the delivery of Extraordinary Revenue Acceleration Loans, Prime Minister Trudeau reiterated that Canada is prepared to contribute $5 billion to this initiative, which brings forward future revenues from frozen Russian sovereign assets to support Ukraine.
Prime Minister Trudeau and Chancellor Scholz highlighted the close relationship between Canada and Germany and discussed continued collaboration in areas of shared priority, including advancing clean energy and the development of critical minerals supply chains. They noted the importance of facilitating offtake agreements to support early access in Germany for clean Canadian hydrogen producers, which will strengthen both Canada’s and Germany’s efforts to fight climate change and enhance energy security.
The leaders agreed to remain in close contact and looked forward to seeing each other again soon in Switzerland for the Summit on Peace in Ukraine.
Associated Links
- Canada-Germany relations
- Prime Minister strengthens global security and stability at the G7 Summit
- Canada and the G7
- Prime Minister to travel to Europe to attend G7 Summit and the Summit on Peace in Ukraine
- Canada’s response to the Russian invasion of Ukraine
- Prime Minister Justin Trudeau speaks with Chancellor of Germany Olaf Scholz
June 15, 2024
Apulia, Italy
Yesterday, Prime Minister Justin Trudeau met with His Majesty King Abdullah II bin Al-Hussein of Jordan, on the margins of the G7 Summit in Apulia, Italy.
The Prime Minister and the King expressed their deep concern over the ongoing crisis in Gaza as well as the humanitarian implications of Israel’s military offensive in the southern Gaza city of Rafah. They underscored the importance that all parties uphold international humanitarian law, ensure humanitarian access to the affected areas, and protect civilians. They also stressed the urgent need for a humanitarian ceasefire and the release of hostages.
The two leaders spoke about the importance of promoting peace and security in the Middle East. The Prime Minister thanked the King for Jordan’s leadership in securing humanitarian assistance for Gaza, promoting dialogue and stability in the region, and securing a path toward lasting peace for Israelis and Palestinians.
Prime Minister Trudeau and His Majesty King Abdullah II noted the strong partnership between Canada and Jordan and looked forward to advancing co-operation on international peace and security.
Associated Links
- Canada-Jordan relations
- Prime Minister to travel to Europe to attend G7 Summit and the Summit on Peace in Ukraine
- Canada’s response to the crisis in Israel, the West Bank and the Gaza Strip
June 15, 2024
Apulia, Italy
Today, Prime Minister Justin Trudeau met with the Prime Minister of Italy, Giorgia Meloni.
Prime Minister Trudeau congratulated Prime Minister Meloni on hosting a productive G7 Summit and thanked her for Italy’s continued focus on ongoing G7 priorities, including supporting Ukraine, advancing the clean energy transition, and promoting the responsible use and development of artificial intelligence.
The two leaders highlighted the strong and growing relationship between Canada and Italy, and officially launched the Italy-Canada Roadmap for Enhanced Cooperation. The Roadmap sets out ambitious, concrete plans to collaborate over the next three to five years in shared priority areas ranging from energy security, climate change, and biodiversity to migration, sustainable economic growth, and research and innovation.
The leaders discussed current geopolitical crises, including the conflict in Ukraine. They reiterated their commitment to stand with Ukraine, and stressed the importance of G7 unity and global solidarity in supporting a just and sustainable peace in Ukraine.
As Canada prepares to assume the G7 Presidency from Italy in 2025, Prime Minister Trudeau reaffirmed the importance of a practical but ambitious G7 agenda to address global challenges and deliver concrete results.
Prime Minister Trudeau and Prime Minister Meloni agreed to remain in close contact, particularly as the Italy-Canada Roadmap for Enhanced Cooperation is implemented. They looked forward to seeing each other again soon.
Associated Links
- Canada-Italy relations
- Canada and the G7
- Italy-Canada Roadmap for Enhanced Cooperation
- Prime Minister advances shared progress and prosperity at the G7 Summit
- Prime Minister strengthens global security and stability at the G7 Summit
- Prime Minister to travel to Europe to attend G7 Summit and the Summit on Peace in Ukraine
- Canada’s response to the Russian invasion of Ukraine
June 14, 2024
Apulia, Italy
The Prime Minister, Justin Trudeau, today concluded his second day at the G7 Leaders’ Summit in Apulia, Italy. The challenges the world is facing are interconnected, from climate change to food insecurity to gender inequality. No single country can address them alone – but Canada is not alone. Together with G7 partners, we will continue our work to make the world fairer and more prosperous, now and into the future.
In Apulia, the Prime Minister participated in working sessions and met with G7 partners and outreach guests, including His Holiness Pope Francis, to champion global ambition in driving the clean energy transition. He reinforced Canada’s leadership role in advancing digital inclusion and emphasized Canada’s focus on regional stability and peace and security globally, particularly in Africa and the Mediterranean.
G7 leaders issued a joint declaration reiterating their support for Ukraine and a just and lasting peace in the Middle East as well as their commitment to a free and open Indo-Pacific. They also agreed on the importance of fostering global economic growth, partnering with African countries, reinforcing food and energy security, addressing the triple crisis of climate change, biodiversity loss, and pollution, and promoting human-centred artificial intelligence.
The Prime Minister highlighted a $686.9 million package of measures to strengthen climate resiliency, foster more inclusive communities, and move forward on climate action around the world. He also announced that Canada will host the next G7 Leaders’ Summit in Kananaskis, Alberta, in 2025.
The effects of climate change are being felt more than ever, and this is having a devastating impact on developing countries, who are vulnerable to food insecurity. That’s why Canada is allocating $200 million to the International Fund for Agricultural Development (IFAD), including:
- $100 million in contributions to support IFAD in its essential work to reduce poverty and food insecurity while strengthening climate resilience, with a focus on the poorest and most vulnerable located in rural areas.
- $100 million as a repayable contribution to IFAD’s Private Sector Financing Programme to support investments in the agricultural sector in low- and middle-income countries, especially in the Americas, Sub-Saharan Africa, and Asia.
Canada’s future will be shaped by its relationship with the Indo-Pacific region, which is home to the largest number of climate-vulnerable people in the world. Working with Indo-Pacific countries, the federal government is:
- Delivering a $360 million repayable contribution to the Asian Development Bank to establish the Canadian Climate and Nature Fund for the Private Sector in Asia. The Fund will mobilize private capital toward inclusive climate change mitigation and adaptation projects. This will accelerate their transition to low-carbon and climate-resilient economies, and advance gender equality in sectors such as renewable energy, climate-smart agriculture, and nature-based solutions.
- Investing $6.9 million through the International Development Research Centre (IDRC). Building on Canada’s existing partnership with the United Kingdom, this investment will help expand the IDRC’s Artificial Intelligence (AI) for Development program to support responsible AI innovation, policy research, and capacity building in the Indo-Pacific.
Canada is also taking a leadership role in the G7’s work to advance gender equality and the empowerment of women, girls, and 2SLGBTQI+ people around the world. To support this critical work, the federal government is:
- Investing $100 million in the International Finance Corporation’s Facility for Gender Equality, Resilience, Opportunity, and Inclusion Worldwide. The Facility supports companies to enable the full and meaningful participation of women and girls in the private sector. The funding announced today is expected to mobilize an estimated $470 million in private capital for investments that break gender barriers, empower women, and promote gender inclusion around the world.
- Providing $20 million to TradeMark Africa and the Centre for International Studies and Cooperation to help ensure that everyone shares in the benefits of free and open commerce. This investment aims to help eliminate the gender-based barriers that prevent women from fully participating in the opportunities afforded by the African Continental Free Trade Area.
The Prime Minister also announced that, as the 2025 G7 President, Canada will host the next G7 Leaders’ Summit in Kananaskis, Alberta, in 2025. Prime Minister Trudeau underlined Canada’s continued commitment to working together with G7 partners on common priorities, such as building economies that benefit everyone, fighting climate change, and managing rapidly evolving technologies.
Prime Minister Trudeau reiterated his thanks to the Prime Minister of Italy, Giorgia Meloni, for her country’s successful hosting of the G7 Summit, and he underscored Canada’s commitment to working with Italy and other G7 partners to address pressing global issues.
Quote
“We just concluded the G7 Leaders’ Summit in Apulia, where alongside our G7 partners, we announced comprehensive action to grow dynamic economies, build inclusive communities, and keep our air clean. As Canada prepares to host G7 partners in Kananaskis next year, we are focused on delivering fairness for every generation and making life better for everyone.”
— The Rt. Hon. Justin Trudeau, Prime Minister of Canada
Quick Facts
- Today in Apulia, Prime Minister Trudeau had bilateral meetings with the President of the European Commission, Ursula von der Leyen, His Holiness Pope Francis, His Majesty King Abdullah II bin Al-Hussein of Jordan, and the Prime Minister of Japan, Kishida Fumio.
- Yesterday in Apulia, Prime Minister Trudeau announced key measures to support Ukraine’s fight for freedom. This includes:
- A $5 billion contribution to G7 Extraordinary Revenue Acceleration Loans for Ukraine.
- Sanctions on 27 individuals and entities involved in Russia’s military-industrial complex as well as sanctions circumvention and disinformation.
- Yesterday in Apulia, Prime Minister Trudeau also highlighted an over $1.6 billion package of measures to support developing economies and promote climate resiliency around the world.
- IFAD is an international financial institution and specialized United Nations (UN) agency based in Rome, the UN’s food and agriculture hub. Since 1978, it has provided US$23.2 billion in grants and low-interest loans.
- With support from Canada and other international donors IFAD is expected to improve the incomes, production, food security, nutrition, and resilience of over 100 million of the most vulnerable people across the globe, all while strengthening climate resilience and biodiversity.
- Canada’s contribution to the Asian Development Bank is made available through our $5.3 billion climate finance commitment.
- Canada’s contribution to International Finance Corporation’s Facility for Gender Equality, Resilience, Opportunity, and Inclusion Worldwide and IFAD’s Private Sector Financing Programme are made possible through our International Assistance Innovation Program.
- In November 2023, Canada and the United Kingdom launched a partnership in support of the AI for Development program, which was initially launched in 2020 with a focus on Africa. The $67 million partnership supports responsible AI innovation, policy research, and capacity building in emerging markets and developing countries. With the recently announced expansion of the initiative to support programming in the Indo-Pacific, it is now worth $108 million, making it the largest program focused on AI and sustainable development.
- Canada’s contribution to Trademark Africa and the Centre for International Studies and Cooperation is expected to support efforts to reach an estimated 80,000 direct beneficiaries, with a focus on women traders.
- The African Continental Free Trade Area is the world’s largest free trade area, bringing together the 55 countries of the African Union and eight regional economic communities to create a single market for the continent.
- Prime Minister Justin Trudeau is the co-Chair of the UN SDG Advocates Group and of the SDG Stimulus Leaders Group, which helps mobilize collective action toward the SDGs, including efforts to improve access to financing for emerging economies and developing countries.
- The Government of Canada works with partners and stakeholders to advance the 2030 Agenda through concrete actions on the 17 SDGs. These actions include reducing poverty, building sustainable economic growth, supporting reconciliation with Indigenous peoples, advancing gender equality, and taking action on climate change and clean energy.
- Canada’s 2030 Agenda National Strategy seeks to advance progress on the SDGs through widespread, collaborative engagement and action. The intended result is all partners contributing in their unique ways and with others toward achieving the SDGs.
Related Product
Associated Links
- Prime Minister strengthens global security and stability at the G7 Summit
- Canada and the G7
- Canada’s climate finance for developing countries
- International Assistance Innovation Program
- Canada’s Indo-Pacific Strategy
- Canada’s Feminist International Assistance Policy
- Canada and the Sustainable Development Goals
June 13, 2024
Apulia, Italy
Today, Prime Minister Justin Trudeau met with the President of France, Emmanuel Macron, on the margins of the G7 Summit taking place in Apulia, Italy.
The Prime Minister and the President reflected on the discussions among G7 leaders throughout the first day of the G7 Summit, including on their unwavering support for Ukraine in the face of Russia’s illegal aggression, peace and stability in the Middle East, and the promotion of an inclusive and dynamic growth in Africa and around the world, anchored in the global clean energy transition.
The two leaders highlighted the strong partnership between Canada and France in multiple areas, including European and transatlantic defence, the protection of democratic values, energy transition, and La Francophonie. They discussed negotiations on Atlantic halibut fishing quotas and indicated that they hoped a mutually beneficial agreement would be reached quickly.
The leaders also discussed the results of the recent European elections. Prime Minister Trudeau indicated that, as a close ally of the European Union (EU), Canada will continue to work with the EU in the areas of security, democracy, human rights, and the defence of the rules-based international system, among other priorities.
Prime Minister Trudeau looked forward to hosting President Macron in Canada this year.
Associated Links
- Canada-France relations
- Canada and the G7
- Prime Minister to travel to Europe to attend G7 Summit and the Summit on Peace in Ukraine
- Prime Minister strengthens global security and stability at the G7 Summit
- Canada’s response to the Russian invasion of Ukraine
- G7 Leaders’ Statement on proposed ceasefire in Gaza
June 13, 2024
Apulia, Italy
Today, Prime Minister Justin Trudeau met with the President of Ukraine, Volodymyr Zelenskyy, on the margins of the G7 Summit in Apulia, Italy.
Prime Minister Trudeau welcomed President Zelenskyy’s participation in the Summit and underlined the G7’s continued unity and solidarity with Ukraine as it continues to resist Russia’s ongoing war of aggression.
The leaders discussed the situation on the ground, and the Prime Minister reaffirmed Canada’s unwavering support for Ukraine as it faces a renewed Russian offensive, including attacks on civilian infrastructure. President Zelenskyy thanked Prime Minister Trudeau for Canada’s shipment, from London, Ontario, of four armoured medical evacuation vehicles, the first of 50 Canadian-built armoured combat support vehicles to Europe, to support Ukraine’s Armed Forces.
As the G7 finalizes the delivery of Extraordinary Revenue Acceleration Loans, Prime Minister Trudeau confirmed that Canada stands ready to contribute $5 billion in funding through this initiative, which brings forward future revenues from frozen Russian sovereign assets to support Ukraine.
The Prime Minister and the President further exchanged on the global implications of Russia’s brutal and unjustifiable war and highlighted President Zelenskyy’s continued efforts toward a just and sustainable peace, including the upcoming Summit on Peace in Ukraine. The Prime Minister looked forward to participating in the Summit and to helping lead discussions on deported children, civilian hostages, and prisoners of war, including in the context of Canada’s co-leadership of the International Coalition for the Return of Ukrainian Children.
Prime Minister Trudeau and President Zelenskyy reaffirmed their intention to remain in close and regular contact.
Associated Links
- Canada-Ukraine relations
- Prime Minister strengthens global security and stability at the G7 Summit
- International Coalition for the Return of Ukrainian Children
- Canada’s response to the Russian invasion of Ukraine
- Canada and the G7
- Prime Minister to travel to Europe to attend G7 Summit and the Summit on Peace in Ukraine
- Prime Minister Justin Trudeau speaks with President of Ukraine Volodymyr Zelenskyy
June 10, 2024
Quebec City, Quebec
Today, Prime Minister Justin Trudeau met with the Premier of Quebec, François Legault.
The Prime Minister and the Premier discussed asylum seekers, temporary immigration, and the negotiation of bilateral agreements on shared priorities.
Prime Minister Trudeau confirmed that the Government of Canada will provide $750 million to the Government of Quebec for the provision of services to asylum seekers, including temporary housing.
As committed during their meeting on March 15, 2024, Prime Minister Trudeau also outlined a series of concrete measures that will be implemented by the Government of Canada to reduce the number of asylum seekers in Quebec in the short term. These measures include expediting the processing of claims by the Immigration and Refugee Board of Canada, working with other provinces to encourage asylum seekers to voluntarily relocate outside of Quebec, improving the integrity of Canada’s visa system, and continuing efforts to increase the removal of foreign nationals who are inadmissible to Quebec.
Prime Minister Trudeau asked Premier Legault for the Quebec government to share a reduction plan for immigration categories under its responsibility. These categories account for the majority of temporary immigration to Quebec.
Additionally, Prime Minister Trudeau committed to facilitating the integration of asylum seekers into the job market by speeding up the issuance of work permits, and by offering to work together to improve the integration of the federal Job Bank platform with the provincial Emploi Québec platform. This would help better promote the skills of asylum seekers, so they can more easily be matched with employers in Quebec and elsewhere in Canada.
The two leaders also agreed that their governments would continue working together to enhance French-language requirements for temporary immigrants. These measures will specifically target the International Mobility Program and the Temporary Foreign Worker Program.
The Prime Minister and the Premier agreed that responsible ministers within their respective governments would review progress on these commitments on a regular basis.
Finally, Prime Minister Trudeau and Premier Legault discussed the importance of working together to finalize several priority bilateral agreements for the benefit of Quebecers and Canadians, particularly in the areas of housing and infrastructure.
Associated Links
- Refugees and asylum
- Temporary workers
- Job Bank
- Prime Minister Justin Trudeau meets with Quebec Premier François Legault
June 13, 2024
Apulia, Italy
The Prime Minister, Justin Trudeau, today concluded his first day at his eighth G7 Leaders’ Summit, this year in Apulia, Italy, where he met with leaders from around the world to discuss pressing global issues. Shared challenges require shared solutions, and together with international partners, Canada is working to build a better, fairer future with security, stability, and prosperity.
At the G7 Summit, Prime Minister Trudeau participated in G7 working sessions to strengthen security and stability around the world, particularly in Ukraine and the Middle East. In meetings with G7 partners, the Prime Minister underlined the importance of global solidarity to support Ukraine in defence of its freedom.
The Prime Minister announced key measures, including $5 billion in funding, to support Ukraine’s fight for freedom.
This includes:
- Canada’s contribution to G7 Extraordinary Revenue Acceleration Loans for Ukraine. Canada has long advocated for new and innovative ways to support Ukraine and impose costs on Russia for its illegal and unjustifiable invasion of Ukraine. As the G7 finalizes the delivery of the Extraordinary Revenue Acceleration Loans, Canada stands prepared to contribute $5 billion in funding. Through this initiative, G7 countries would intend to bring forward the future revenues from frozen Russian sovereign assets. This would provide Ukraine with approximately $69 billion (US$50 billion) as it continues to defend its freedom, sovereignty, and territorial integrity.
- A new sanctions package targeting Russia’s military-industrial complex. Canada is sanctioning 11 individuals and 16 entities who supply key technology and electrical components in support of Russia’s war of aggression, entities involved in sanctions circumvention that help Russia access sanctioned goods or revenue from oil sold above the G7 price cap, and individuals and entities implicated in disinformation and propaganda operations.
- The export of the first four of 50 Canadian-built armoured combat support vehicles to Europe, to support Ukraine’s Armed Forces. The Prime Minister noted that the shipment of these first armoured medical evacuation vehicles further reinforces the practical support that Canada is providing to Ukraine, as outlined in the $650 million funding package announced by Canada in September of last year.
In Apulia, G7 leaders reaffirmed their support for the comprehensive deal outlined by President Biden that would lead to an immediate ceasefire in Gaza, the release of remaining hostages, a significant and sustained increase in humanitarian assistance to support civilians in Gaza, and an enduring end to the crisis, with Israel’s security interests and the safety of Gazan civilians assured. They reaffirmed their support for a two-state solution and underscored the need to remain engaged with governments in the region to prevent spillover of the conflict into neighbouring territories, which may further endanger regional stability and security. Prime Minister Trudeau reiterated his deep concern over the conflict’s impact on civilian life, including the remaining hostages, and highlighted $165 million in assistance funding provided to date to support the provision of food, water, emergency medical assistance, protection services, and other life-saving assistance to civilians.
Alongside building a secure and stable world, Canada is also taking leadership to grow global economies that will benefit all citizens and future generations.
At the Summit, the Prime Minister participated in a G7 working session on Africa, climate change, and development and a side event on the G7 Partnership for Global Infrastructure and Investment, where he highlighted an over $1.6 billion package of measures to promote inclusive and dynamic growth anchored in the global clean energy transition.
This includes:
- Delivering $720 million over five years for a new concessional finance facility at FinDev Canada. The facility will grow the range of investments to mobilize additional capital for sustainable development, including from the private sector. Building on the federal government’s $750 million in additional capital announced in 2022 to support its global mandate and expansion into the Indo-Pacific region, today’s funding further strengthens Canada’s development toolkit. This also includes $20 million for technical assistance to further support FinDev Canada’s clients so that they can close knowledge gaps and advance sustainable investing.
- Purchasing $274 million (US$200 million) in hybrid capital from the World Bank’s International Bank for Reconstruction and Development. This will enable up to $1.8 billion in additional lending to developing countries so they can advance the United Nations’ (UN) Sustainable Development Goals (SDGs), from improving education and health to reducing food insecurity and carbon footprints.
- Providing $510 million in repayable contributions and technical assistance grants to the Inter-American Development Bank Group to establish the Canadian Net Zero and Climate Resilience Accelerator Fund. This will incentivize private-sector investments in projects that will help economies in Latin America and the Caribbean become less carbon-intensive, more climate-resilient, and more inclusive.
- Providing a $120 million sovereign loan and a $6.5 million technical assistance grant to South Africa in support of its Just Energy Transition Partnership. As part of the sovereign loan agreement signed in March of this year, Canada is supporting a South African-led transition to safe, secure, and affordable clean energy, while addressing economic inclusion gaps.
- Contributing a $45 million repayable loan to the Private Infrastructure Development Group. By mobilizing private sector investments, this will expand financing options for sustainable and more gender-inclusive infrastructure in Africa and Asia.
Quote
“We are working with G7 partners to address the most pressing challenges of our time and to build a world with stability and security. At the G7 Summit today, we announced supports for Ukraine in its defence of freedom, action to hold Russia accountable for its war of aggression, and shared efforts to grow inclusive, fair, and dynamic global economies.”
— The Rt. Hon. Justin Trudeau, Prime Minister of Canada
Quick Facts
- Today in Apulia, Prime Minister Trudeau held bilateral meetings with the President of France, Emmanuel Macron, the President of Ukraine, Volodymyr Zelenskyy, and the Chancellor of Germany, Olaf Scholz.
- At the G7 Leaders’ meeting on February 24, 2022, as Russia launched its illegal full-scale invasion of Ukraine, Prime Minister Trudeau first proposed freezing the assets of Russia’s central bank. In Budget 2022, Canada introduced the world’s first legislation to allow the seizure and forfeiture of sanctioned Russian assets.
- During the G7 Leaders’ call on February 24, 2024, Prime Minister Trudeau, while on an official visit to Ukraine, was the first to raise the topic of Russian central bank assets, and proposed to seize the now-frozen assets. In Budget 2024, Canada detailed its proposal to work with G7 allies to make full use of the Russian assets currently immobilized in our jurisdictions, including through the possible expansion of the Windfall Profits mechanism to advance the payments from future years under this system to Ukraine.
- Hybrid capital is an innovative financial instrument at the World Bank’s International Bank for Reconstruction and Development (IBRD). The instrument acts as equity on the IBRD’s balance sheet and provides additional capacity for the Bank to provide loans to developing countries, with a leverage factor of 6.5 times. Canada’s purchase of $274 million in World Bank hybrid capital can help support up to $1.8 billion in additional lending to developing countries.
- Canada’s contribution to the Inter-American Development Bank is made available through our $5.3 billion climate finance commitment.
- FinDev Canada is Canada’s development finance institution. Since its launch in 2018, it has programmed nearly $76 million in concessional financing and invested close to $1.3 billion, with 46 private sector clients.
- FinDev Canada’s concessional finance facility will activate and accelerate emergent private sector growth in priority markets by targeting finance opportunities in sustainable infrastructure, the financial industry, and agribusiness and forestry value chains. The facility will contribute to climate and nature action, gender equality, and local market development.
- The Private Infrastructure Development Group (PIDG) helps to expand finance for sustainable and more gender-inclusive infrastructure in Africa and Asia. This funding qualifies Canada to be a PIDG member to the PIDG Trust.
- Since 2014, Canada has imposed sanctions on more than 3,000 individuals and entities in Russia, Belarus, Moldova, and Ukraine for their complicity in the violation of Ukraine’s sovereignty and territorial integrity and the gross and systematic human rights violations. Many of these sanctions have been implemented in co-ordination with Canada’s partners.
- In 2022, Canada introduced the world’s first civil forfeiture regime for sanctioned assets. Budget 2024 announced the federal government’s intention to engage international partners to identify additional avenues to hold Russia to account and advance any necessary amendments to Canada's sanctions regime.
- Canada is committed to achieving the UN’s SDGs at home and around the world. Over the past decade, Canada has been at the forefront of financing for development discussions at the UN. Canada has co-chaired the UN Group of Friends of SDG Financing since 2016.
- Prime Minister Justin Trudeau is the co-Chair of the UN SDG Advocates Group and of the SDG Stimulus Leaders Group, which helps mobilize collective action toward the SDGs, including efforts to improve access to financing for emerging economies and developing countries.
- Canada’s 2030 Agenda National Strategy seeks to advance progress on the SDGs through widespread, collaborative engagement and action. The intended result is all partners contributing in their unique ways and with others toward achieving the SDGs.
Related Product
Associated Links
- Canada announces additional sanctions against Russia and its illegal war against Ukraine
- Canada and the G7
- Canada’s climate finance for developing countries
- Canada and the Sustainable Development Goals
- Sovereign Loans Program
- International Assistance Innovation Program
- Development Finance Institute Canada
- Canada’s response to the Russian invasion of Ukraine
- Prime Minister advances progress toward a peaceful, healthy future at United Nations General Assembly
