Canada will provide Ukraine with an additional loan of almost CAD 500 million ($393 million) to support economic resilience, in addition to the CAD 120 million ($94.4 million) loan announced in January, according to a statement on the website of the Canadian government.

"Ukraine is on the front lines in the struggle between democracy and authoritarianism. The stakes in this conflict are stark and directly relevant to the Canadian national interest. Canada stands united with our G7 and NATO allies in our resolve to protect the economic and democratic stability of Ukraine. And Canada is prepared to respond swiftly to any further Russian military aggression and threatening of Ukraine’s sovereignty and territorial integrity by imposing forceful economic and financial sanctions," the government press service said, citing Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland.

Canada will continue to support the stability of the Ukrainian economy, while remaining committed to de-escalation, the Canadian government said.

Earlier, Canadian Prime Minister Justin Trudeau also announced the supply of lethal weapons to Kyiv worth CAD 7.8 million, or $6.1 million.