US Treasury Secretary Janet Yellen said last night that it was critical that international partners join the US in supporting Ukraine, and called on partners and allies to quickly pay back their existing commitments as well as increase their efforts, Reuters reported.
“Two weeks ago, Congress passed $4.5 billion in direct budget support for Ukraine, which I am pleased to announce that the United States intends to pay to the Ukrainian government in the coming weeks,” Yellen said at the start of her meeting with the Treasury secretary. of Ukraine Serhii Marchenko. “We are committed to providing you with these funds as soon as possible,” she added.
“But let me be clear: international support for Ukraine is a collective effort. We call on our partners and allies to join us by quickly repaying their existing commitments to Ukraine and by increasing their efforts to help Ukraine continue to function government services and also to help Ukraine start building and rebuilding,” she said.
Yellen’s sharp comments about the partners’ commitments reflect a growing frustration among US and Ukrainian officials with the actions of the European Union, which has pledged $9 billion in aid to Ukraine but has so far provided only $1 billion, Reuters noted. Sources familiar with the matter say that Germany in particular has slowed down the process of allocating funds to Ukraine.
Yellen and other G7 finance officials will meet today on the sidelines of the annual meetings of the International Monetary Fund and the World Bank to discuss Ukraine’s financing and recovery needs.