Canada will offer C$220 million ($198 million) in aid to Ukraine to help promote sustainable economic growth and good governance, Foreign Minister John Baird said on Thursday.

He told reporters that C$200 million would be in the form of a loan or a loan guarantee based on a broader package that included support from the International Monetary Fund.

"It's not just a matter of writing a blank check: obviously the IMF is going to want to negotiate some pretty strict conditions and obviously Canada will take a strong role in ensuring any financial resources (have) the appropriate safeguards," he said.