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The money will go toward buying items from a NATO list and brings Canada’s total monetary support for Ukraine to $25.8 billion since 2022.

"It's part of a bigger puzzle in a conflict where Ukraine is gaining some advantage," Carney told reporters.

In opening remarks before meeting with Ukrainian President Volodymyr Zelenskyy, Carney said "all of Canada" is behind Ukraine. He said this latest contribution will help strengthen Ukraine and ensure prosperity for its people when peace comes.

"And it will come," he said.

Zelenskyy expressed gratitude for Canada's moral and financial backing.

"We are thankful to Canadian friends, to all the people for such strong support," he said.

In Ottawa, the Ukrainian Canadian Congress held meetings with politicians of all stripes Monday, calling for continued investment for Ukraine's defence and reconstruction, as well as assistance for displaced Ukrainians.

UCC national president Alexandra Chyczij said Russia must be held to account for war crimes. 

"Today the tide of battle is turning in Ukraine's favour," she said. "Ukrainian innovation and invention have changed warfare forever."

Canada is the first non-European country to attend the European political summit, which has taken place twice a year since it began after Russia's 2022 invasion.

Ahead of the announcement, Carney addressed the summit of European leaders, saying countries must take on the world as it is and not through the lens of nostalgia.

Carney told the gathering that Canada is at the summit because of the "immense potential" for partnerships with Europe.

"The world is undergoing a rupture across several dimensions. In technology, in energy, in commerce and geopolitics," Carney said.

"We have to actively take on the world as it is, not as we wish it to be. We know nostalgia is not a strategy, but we don't think that we're destined to submit to a more transactional, insular and brutal world.

"And gatherings such as these point to a better way forward."

Carney said it is his "strong personal view" that the international order will be rebuilt, and that it will be rebuilt out of Europe.

Earlier Monday, Carney met with European Commission president Ursula von der Leyen and Antonio Costa, president of the European Council. A readout from the Prime Minister's Office says the leaders discussed deepening collaboration in areas such as supply chains, critical minerals, energy and technologies.

After the meeting, Costa said Canada's invitation to the summit was partly due to Carney's speech in Davos, which he described as "great inspiration."

"Because, as Mark Carney said in this very important speech in Davos, the like-minded countries around the world need to keep together, to strengthen their relationships, because this is essential to stabilize these very challenging moments in the world," he said.

Costa said Canada shares a vision of the world based on multilateralism and the rule of law. While Europe and Canada will continue to deepen trade and defence ties, he said, there is a "geographic problem" with Canada joining the EU.

Carney met Sunday with Armenian Prime Minister Nikol Pashinyan and thanked him for the invitation to attend the summit at a "crucial time" for Europe and European values.

He also had meetings with Italian Prime Minister Giorgia Meloni and Spanish Prime Minister Pedro Sanchez on Monday.

This report by ¹ú²úÓÕ»ó¸£Àû was first published May 4, 2026.