Yellen Visits Ukraine to Discuss $10 Billion in New Budgetary Aid

The Treasury secretary announced the first $1.2 billion tranche of the aid

Treasury Secretary Janet Yellen visited Ukraine on Monday to discuss an additional $10 billion in new budgetary aid for the country, assistance that goes directly to the government to pay for things like government services and pensions.

While in Kyiv, Yellen announced that Ukraine would be receiving $1.2 billion as the first tranche of the massive $10 billion aid package.

“The United States has provided $13 billion in economic assistance to Ukraine. Today, I am proud to announce the transfer of an additional amount of over $1.2 billion. That’s the first tranche of about $10 billion in direct budget support that the United States will provide in the coming months,” Yellen said.

Ukraine is expecting to have a budget deficit of about $38 billion this year and is looking for the US, the EU, and the IMF to foot the bill.

The $10 billion for the US budgetary aid is being pulled from the $45 billion Congress authorized to spend on Ukraine in December. If spent at the same rate as previous aid packages, the $45 billion will be exhausted by the summer.

The Biden administration has told Ukraine that similar aid packages might be harder to pass in the future, but Yellen’s message in Kyiv was that the US would support the country for “as long as it takes.”

“As you do, I want you to know this: you are not alone. We are with you. The United States has your back – and we will stand with you for as long as it takes,” Yellen said.

Author: Dave DeCamp

Dave DeCamp is the news editor of, follow him on Twitter @decampdave.