U.S. to provide $500M in additional direct financial assistance to Ukraine – Finance Ministry

U.S. to provide $500M in additional direct financial assistance to Ukraine – Finance Ministry

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Ukrinform
The United States will provide Ukraine with additional direct financial aid in the amount of $500 million.

This has been reported by the press service of the Finance Ministry, Ukrinform reports.

“The United States will provide Ukraine with additional direct financial aid in the amount of USD 500 million. This was announced by President of the United States Joe Biden during a meeting with Ukrainian Prime Minister Denys Shmyhal and Secretary of the Treasury of the United States Janet Yellen,” the report says.

It is noted that the funds will be directed to the state budget of Ukraine in the form of grant aid to help stabilize the economy and ensure protected expenses in wartime conditions: payment of salaries, pensions, and social benefits, Janet Yellen announced this at the meeting.

Yellen said that this is only the beginning of U.S. aid for the recovery and reconstruction of our state: "We, in cooperation with the U.S. Congress and international partners, will support Ukraine in the short and long term."

Finance Minister Serhii Marchenko welcomed the decision of the U.S. authorities and thanked Ukrainian partners.

"It is impossible to overestimate the support we receive from our American friends. This decision was preceded by the hard and long work of the President of Ukraine, the Government, and my Finance Ministry team. Despite increasing fiscal challenges, we continue to perform all priority state budget expenditures. Together with our international partners, we are taking many steps to preserve financial stability and mitigate economic consequences for the country. We are especially grateful for the assistance of our partners in the form of grants, as this will allow us to keep Ukraine's debt at a safe level. I am convinced that the efforts of our partners will accelerate the victory of Ukraine over Russia in this war,” Marchenko said.

As reported, on April 21, Ukraine’s government delegation met with representatives of the IMF, the World Bank and the U.S. administration to discuss attracting financial support for Ukraine.

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