Department of Finance Canada published an update on Finance and National Revenue Minister François-Philippe Champagne’s participation in G7 and G20 Finance Ministers and Central Bank Governors meetings and the International Monetary Fund and World Bank Group Spring Meetings in Washington, D.C., highlighting new creditor and guarantee arrangements intended to support Ukraine. As co-chair of the Group of Creditors of Ukraine, Champagne signed the Memorandum of Understanding on Debt Service Suspension of Ukraine alongside France’s Minister of Finance Roland Lescure and Ukraine’s Minister of Finance Sergii Marchenko, which the release frames as initiating the first phase of financing assurances provided by creditors. The trip also included an MoU with World Bank President Ajay Banga on a forthcoming US$1 billion guarantee to support lending to Ukraine, and a Statement of Intent with European Bank for Reconstruction and Development President Odile Renaud-Basso on a forthcoming EUR200 million guarantee to support lending to Ukraine’s energy sector. Bilateral discussions covered wider economic issues, including a meeting with U.S. Treasury Secretary Scott Bessent on trade and the impact of advanced AI technologies on strategic sectors. The next G20 Finance Ministers and Central Bank Governors meeting is scheduled for August 31 to September 1, 2026 in Asheville, North Carolina.

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