Today, the Honourable Ahmed Hussen, Minister of International Development, and the Honourable Mélanie Joly, Minister of Foreign Affairs, announced that Canada will provide the Republic of Moldova with a sovereign loan of $120 million over 10 years.

“Canada remains strongly committed to supporting the work underway by the Republic of Moldova to secure the resilience of Ukrainian refugees and long-term economic development. We will continue to work closely with our partners to help ensure a sustainable future for the people of the Republic of Moldova so that it becomes a reality.”  

- Ahmed Hussen, Minister of International Development

“Through this loan, we are delivering on a commitment made to Moldova to help manage the influx of Ukrainian refugees. The loan will provide crucial financial stability at a time when Moldova is pursuing an ambitious program of reforms and resisting sustained Russian efforts to destabilize its democracy. We will continue to work with Moldovan leadership and our international partners to identify opportunities to further our support to their peace and security.”

- Mélanie Joly, Minister of Foreign Affairs

• The loan will be provided under the Sovereign Loans Program, which was announced in Budget 2018.

• In October 2023, Canada announced that it would offer climate resilient debt clauses (CRDCs) in all new sovereign lending, including Moldova. Canada has spearheaded the development of CRDCs, which support borrowing countries’ resilience by automatically deferring debt payments in the event of a climate incident, natural disaster, pandemic or epidemic. This is important in freeing up critical resources required to respond to the immediate crisis.

• Canada and the Republic of Moldova have maintained official bilateral relations since 1992 and work closely together in several multilateral forums.

• In addition to providing humanitarian assistance to support the Republic of Moldova’s response to the influx of refugees following the Russian aggression on Ukraine in 2022, Canada contributes to initiatives aimed at strengthening civil society and human rights in the country. 

• The official visit to the Republic of Moldova by the Honourable Mélanie Joly, Minister of Foreign Affairs, in January 2024, emphasized Canada’s partnership to ensure peace and security in the Republic of Moldova, as well as reaffirmed Canada’s support for the country’s sovereignty and territorial integrity.

Associated links

• Canada-Moldova Relations

Olivia Batten
Press Secretary
Office of the Minister of International Development
Olivia.Batten@international.gc.ca

Media Relations Office
Global Affairs Canada
media@international.gc.ca

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