The Government of Canada will issue five-year bonds – Ukraine Sovereignty Bonds – to financially support Ukraine, Prime Minister Justin Trudeau said at the XXVII Triennial Congress of Ukrainian Canadians in Winnipeg on Friday.

"Canada remains unwavering in our commitment to support the people of Ukraine in their fight against Putin's illegal and barbaric invasion, and we will continue to do everything we can to ensure Ukraine has the resources it needs to win. Now, through a bond designated for Ukraine, Canadians can contribute to this critical effort through a new federally backed investment," Deputy Prime Minister and Finance Minister Chrystia Freeland said in a statement on the Prime Minister's website.

Trudeau announced that the Government of Canada will issue Ukraine Sovereignty Bonds, which will help the government continue operations, including providing essential services to Ukrainians, like pensions, and purchasing fuel before winter.

The equivalent proceeds from this five-year bond will be channelled directly to Ukraine through the International Monetary Fund's (IMF) Administered Account. This builds on the Government of Canada's CAD 2 billion in financial assistance to Ukraine this year, the report said.